Are You Investing Like A Millennial Or A Baby Boomer?
CNBC's Landon Dowdy recently shared a comparison between the top stocks Millennials invest in versus those Baby Boomers are placing their money on.
Although recent data indicated that Millennials are not investing as much as the generation that preceded them, those who are doing it are doing it in a very different way than their parents. According to Bankrate.com, only 26 percent of people under the age of 30 are investing in stocks, compared to the 58 percent of people between the ages of 50 and 64 who own shares of publicly traded companies.
In a recent report, portfolio management site sigfig shared some conclusions from its analysis of 400,000 portfolios for over 220,000 investors.
Top Stocks For Millennials
- 5) GoPro Inc (NASDAQ: GPRO)
- 4) Twitter Inc (NYSE: TWTR)
- 3) SolarCity Corp (NASDAQ: SCTY)
- 2) Advanced Micro Devices, Inc. (NASDAQ: AMD)
- 1) Tesla Motors Inc (NASDAQ: TSLA)
“Millennials are three times more likely to own” Tesla’s stock than Baby Boomers, Dowdy added.
Top Stocks For Baby Boomers
Boomers seem to prefer more established names:
- 5) Merck & Co., Inc. (NYSE: MRK)
- 4) Mondelez International Inc (NASDAQ: MDLZ)
- 3) Duke Energy Corp (NYSE: DUK)
- 2) Honeywell International Inc. (NYSE: HON)
- 1) Southern Co (NYSE: SO)
Opposite to Tesla’s case, Baby Boomers are “five and a half times more likely to own” Southern Co’s stock than Millennials.
Mom And Dad Know Best
Finally, Dowdy looked into the performance of each of these stocks. While all five of the most popular stocks among Millennials are down year-to-date, only three of the Baby Boomers’ top picks are down, with Mondelez up more than 25 percent and Honeywell up 3.6 percent.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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