Is Generation Y Buying Stocks?

According to Vanguard, Echo Boomers have adjusted their investment allocation. When you read about Echo Boomers and their past preference, they preferred to keep a large amount in cash. However, Vanguard shows that recently the Millennial generation has increased its holdings in stocks.

In 2003, Echo Boomers held approximately 41% of their investment portfolio in stocks, but in 2010 that's risen to 85%. Of course, this study covers the retirement allocation of the Millennial generation, which only 22% of all Echo Boomers have. In other words, the Echo Boomer, who have retirement accounts, are showing a strong preference for stocks.