World Economy

Stocks Don’t Impress US Millennials

Stocks Don’t Impress US MillennialsStocks Don’t Impress US Millennials

US millennials are wary of putting their money in the stock market, which could hurt their earning potential in the long run. Only 33 % of millennials said they own stock, compared with 51 % of Gen Xers and 48 % of baby boomers, according to a new poll Wednesday from Bankrate, the personal finance site. It’s true that younger people tend to have less money than their older counterparts. But the findings suggest Americans of all ages are reluctant to take a gamble on the stock market.  Experts worry that millennials, in particular, have a lot to lose by sitting on the sidelines. Not only will they miss out on years of compounding growth, , but they may also be facing a more precarious retirement than older generations, with both Social Security and Medicare expected to be depleted in the next decade and a half.