Young entrepreneurs: How are your plans for retirement going?
Research from the Natixis Global Survey center suggests that investors from this generation are way more optimistic than they used to be decades ago, sometimes unrealistically so. Out of 7,000 investors that were interviewed, about 3,000 don’t have financial advisors, and 80% feel certain that their investment returns will remain the same, or better than last year. Moreover, 67% don’t have solid financial plans and 72% aren’t exactly sure what to do to protect their portfolio in volatile times.
The research shows that millennials are even more optimistic about their retirement plans than their predecessors. Investors in the age range of 34-49 expect to retire by the time they are 63, in contrast with investors in the 18-33 age range that want to retire by the time they are 58 years old. Millenials are also more likely to jump ship during volatile times, as suggested by the fact that 78% of Millenials would reconsider their investments if the market increased 10% or 20%, compared to 52% of Baby Boomers (age range 50-68).
Planning for retirement is the first priority of investors around the world. How precise are their expectations when 57% of investors interviewed have not set financial goals? With 77% of them admitting that they rely on instincts to make important investment decisions, we have to wonder.
Read the full article here