Editor’s note: Read the latest on how the coronavirus is rattling the markets and what you can do to navigate it.
The over a decade-long bull market meant that until recently, many young investors had only seen smooth sailing in the financial markets. Now faced with the volatility of the COVID-19 market downturn and the economic slowdowns associated with social distancing, many millennials are changing how they look at the market and the risks they face as investors.
Millennials: The suspicious generation?
This isn’t to say that all early-career investors were big fans of risk before the virus hit markets.
A few years ago, a friend who worked at a consulting firm told me that she preferred to put all her savings in a (presumably low interest) savings account, fearing what she had seen in the stock market during the global financial crisis. Another contact in his late twenties keeps himself constantly apprised of market news, but in fear of the downside…