Millennials seems the think they know more about investing than they probably do. A recent survey showed that most millennials will likely either make changes to or sell their portfolio in a falling market. What millennials don't have is experience - baby boomers who lived through the aftermath of the financial crisis, learned the danger of panicking when markets are volatile and would now know to ride out a crisis and not make drastic moves. This shows just how important it is to educate younger generations about investing and how to cope with market shifts.
The results suggest the generations are reacting very differently to market fallout from the U.K.’s vote to leave the European Union, says David Kuplic, Securian’s chief investment officer and executive vice president at its subsidiary Advantus Capital Management. “The boomers are going to be much more likely to hold on,” Kuplic says. “I think the millennials will be more active.” That could mean both selling out of fear, or buying on “the belief that a market correction is an opportunity.”