Millennial investors more concerned about debt, cyberrisks

Similarities and differences with investors from older generations were revealed in a new survey.

Millennials are similar in many ways to investors from older generations in their attitudes and confidence about investing, a recent survey shows.

But Millennials are more likely than their counterparts in other generations to use an unexpected windfall to pay down debt—and they also are more concerned about cybersecurity when they invest, according to the ninth annual Main Street Investor Survey conducted by the Center for Audit Quality (CAQ), which is affiliated with the AICPA.

Millennials, defined in the survey as respondents age 18 to 34, closely mirrored other investors with their views on topics such as confidence in U.S. markets, confidence in U.S. publicly traded companies, and entities they trust to look out for investors (both groups most trust independent auditors of publicly traded companies).

There were some differences between Millennial investors and other respondents:

  • Millennial investors were more likely to say they would use an unexpected $10,000 windfall to pay down debt.
  • Millennials were more likely than overall respondents to say their top concern about risks to their investment portfolio is cyberrisks targeting their financial information or the capital markets.
  • Millennials were more likely to describe themselves as willing to take risks after completing adequate research.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.