Millennials and Investment: the money, the mobile and the new mindset

Worldwide millennials are estimated to be worth over 2 trillion dollars. Secondly, they are entering their prime earning years. And thirdly, they stand to inherit some of the largest investment portfolios ever accumulated by the previous baby boomer generation. However, their attitudes, sentiments, ambitions are different, even disruptive, less trustful and definitely more discerning than their parents.

Also known as Gen Y, they were born after 1980 and reached adulthood at the turn of the century, currently anywhere between 18 to 36 years of age. So what’s so special about them? Well, quite a number of things. When it comes to finance, millennials are not their parents. They think differently and their expectations are entirely different. They’re tech-savvy and independent but also wary of financial markets and complicated jargon. Most importantly, this is the wealthiest young generation in history.

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Wealth Building: why it’s NOT a New Year resolution

New Year resolutions and investments do not make good bedfellows. Oh, you may think that deciding to begin an investment plan in the new year is an admirable thing…but investing for wealth is not something that depends on a particular time for commencement – nor is it something that you only think about in the first flush of the new year. Because wealth building should already be part of your life on a daily basis, not something that has to be resolved upon at year-end happy hour. Wealth building through steady investment should be a lifestyle long before those new year’s eve celebrations.

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The Wealthy Employee: how to get rich while in a job

There is a perception among many people that in order to become rich you need to be a stock market fundi, a brain surgeon, a CEO – or you need to win the lotto, inherit old money, own your own business, marry a wealthy person. They believe that an ordinary individual, earning an ordinary salary, does not have – nor will ever have – the capacity to become wealthy.

Nothing could be further from the truth.

And the truth is so simple it should be hammered into your head during your last year of school. Begin to invest with your first paycheck and remain consistent and steadfast with increasing contributions throughout your working life. Note the word ‘invest’ not ‘save’.

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