If you’re looking for better ways to build a financially-sound future for yourself, research by Ohio University and its online master of financial economics program will interest you. According to recent studies by the university’s online MFE program, millennials and those who are actively working at the moment are more comfortable talking about money than the previous generations. This has led to more financial solutions being made available and a better overall understanding of how to plan for a better future.
According to the same set of studies, the most straightforward way to construct a sound financial future is by saving more and investing more. This two-step method – paired with the wealth of investment opportunities we currently have – makes it easy for you to develop a strong portfolio that suits your short-term and long-term goals perfectly.
Eager to get started with building your own future? Be sure to read the full infographic, Creating Millennium-Friendly Financial Advising by Ohio University.
One’s view on financial issues tend to be influenced by the prevailing economic circumstances that had the most impact on a person. That is the reason why the financial thinking of millennials differ from that of generation xers and baby boomers. No matter what time period a person is identified with, there is one financial principle that rings true and that is to save more and invest more.
How much to save would of course depend on how much one is earning. Obviously, one cannot save something which one does not have. We can always put a figure on paper to signify what we want to save but it cannot be realistically achieved when no money is coming in.
The investing part has proved to be a challenge to providers. At one point, it was real estate, then stocks. At this time, millennials tend to favor devices and cash but are usually open to options. Whatever it is, everyone must choose to save diligently and invest wisely.
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