Today, investing is far easier than it has ever been. Anyone can register for an account on one of hundreds of online investment platforms, click a few buttons and voila! Investing! However, if you read the disclaimer on any of these platforms, it is clearly stated that between 70% and 90% of investors lose money while trading on the platform.
Of course, everyone knows there is risk to any investment – but millennials are taking up investing and are willing to risk more because they feel they have plenty of time to earn their money back if it all goes wrong.
Advice is Key No Matter How Smart You Think You Are!
So how does a financial advisor fit into such a world?
Well, quite simply, if you are a millennial with a little extra money you don’t need right now, and you are hoping for good returns, a financial advisor is more likely to be able to get you those returns. Young investors with real investment goals need someone to guide them and help them make sure their money grows rather than deserts them.
There are a few options which may be attractive to you as a young millennial. A ten-year investment into property, for example, can offer you high returns, with the benefit of owning a property at the age of 30 or so. This property can then be rented out for further income over many years to come (including the first 10 years).
Or how about investment products that provide a lot less risk to your money?
Stocks and cryptocurrency investments are popular among young people, but what about products with much less risk for slightly lower reward?
Structured products, bonds, multi- asset funds – there are many different products you can ask your financial advisor about – all it costs you is your faith in them (and a small fee for their services). You spend less time researching individual stocks and more time doing what makes you happy.
TAKE LESS RISK!
According to Clutch, in America alone, 88% of millennials are investing their money but only 55% are confident in their money management skills. That’s at least 33% of millennials in one country who are just waiting for the correct financial advisor to come along and manage the money for them. Are you in the same position?
NEBA has products to offer clients in pretty much every country, so if you are ever unsure what’s on offer for millennial clients, get in touch!
A good, long-term relationship with a financial advisor can help you ensure your future really is that much brighter – save for a family, invest towards a higher pension, your child(ren)’s future education- there are so many good things that can become so much greater if you are able to really invest wisely!
