Nearly 90% of Millennials Invest Their Money, While Only 55% are Confident in Their Money Management Skills

<section class="release-body container"> <div class="row"> <div class="col-sm-10 col-sm-offset-1"> <p><span class="xn-location">WASHINGTON</span>, <span class="xn-chron">Feb. 1, 2021</span> /PRNewswire/ -- 88% of millennials currently invest their money, citing their motivation to plan for their futures. Despite this, only 55% of them feel confident in their money management skills, according to a <u><a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3053626-1&amp;h=2662380145&amp;u=http%3A%2F%2Fwww.clutch.co%2Faccounting%2Fresources%2Fsmart-money-tips-investment-beginners&amp;a=new+report+on+Clutch" rel="nofollow" target="_blank">new report on Clutch</a></u>, the leading B2B ratings and reviews platform. </p><p>Millennials, or investment beginners, can gain more confidence in their capabilities by researching their investment options. </p> <div class="continue-reading text-center mt-xl visible-xs-block"> <span> <a class="smooth-scroll" href="#continue-jump">Continue Reading <br /> <i class="btr bt-angle-down mt-md"></i> </a> </span> </div> <div class="pull-right inline-gallery-container col-md-8 col-sm-7 col-xs-12"> <div class="gallery inline-gallery"> <div class="row"> <div class="col-sm-12"> </div> <div class="col-sm-12 clearfix"> <figure> <div tabindex="0" class="image lightbox-item" data-src="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=publish" data-asset-type="photo" data-asset-id="Life_After_Debt_Aug_17_Event.jpg" data-asset-label="General" data-sub-html="Only 55% of millennials feel confident in their money making decisions, according to Clutch." data-tweet-text="Only 55% of millennials feel confident in their money making decisions, according to Clutch." data-facebook-share-text="Only 55% of millennials feel confident in their money making decisions, according to Clutch." data-linkedin-text="Only 55% of millennials feel confident in their money making decisions, according to Clutch." data-download-url="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=publish" data-pinterest-text="Only 55% of millennials feel confident in their money making decisions, according to Clutch." data-twitter-share-url="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=twitter" data-linkedin-share-url="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=linkedin" data-facebook-share-url="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=facebook" data-pinterest-share-url="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=facebook" onclick="omniture_corousal('Carousel Page','Photo Open','https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=publish','General');"> <img title="Only 55% of millennials feel confident in their money making decisions, according to Clutch." src="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=publish&w=650" id="imageid_2" alt="Only 55% of millennials feel confident in their money making decisions, according to Clutch." class="gallery-thumb img-responsive" rel="newsImage" itemprop="contentUrl" /> <span class="fa fa-arrows-alt arrow_styles" aria-hidden="true"></span> </div> <figcaption> Only 55% of millennials feel confident in their money making decisions, according to Clutch. </figcaption> </figure> <div style="display:none;" id="photo-container-0"> <div class="lg-video-object lg-kaltura"> <div class="video-wrap" data-source="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=publish" itemprop="video" itemscope="" itemtype="http://schema.org/VideoObject"> <span itemprop="name" content="Only 55% of millennials feel confident in their money making decisions, according to Clutch."></span> <span itemprop="description" content="Only 55% of millennials feel confident in their money making decisions, according to Clutch."></span> <span itemprop="thumbnail" content="https://mma.prnewswire.com/media/1430354/55__confident.jpg?p=thumbnail"></span> <span itemprop="cdnid"></span> </div> </div> </div> <figure> <div tabindex="0" class="image lightbox-item" data-src="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=publish" data-asset-type="photo" data-asset-id="Life_After_Debt_Aug_17_Event.jpg" data-asset-label="General" data-sub-html="Clutch found that 45% of millennials are investing to build a retirement fund." data-tweet-text="Clutch found that 45% of millennials are investing to build a retirement fund." data-facebook-share-text="Clutch found that 45% of millennials are investing to build a retirement fund." data-linkedin-text="Clutch found that 45% of millennials are investing to build a retirement fund." data-download-url="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=publish" data-pinterest-text="Clutch found that 45% of millennials are investing to build a retirement fund." data-twitter-share-url="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=twitter" data-linkedin-share-url="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=linkedin" data-facebook-share-url="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=facebook" data-pinterest-share-url="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=facebook" onclick="omniture_corousal('Carousel Page','Photo Open','https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=publish','General');"> <img title="Clutch found that 45% of millennials are investing to build a retirement fund." src="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=publish&w=650" id="imageid_2" alt="Clutch found that 45% of millennials are investing to build a retirement fund." class="gallery-thumb img-responsive" rel="newsImage" itemprop="contentUrl" /> <span class="fa fa-arrows-alt arrow_styles" aria-hidden="true"></span> </div> <figcaption> Clutch found that 45% of millennials are investing to build a retirement fund. </figcaption> </figure> <div style="display:none;" id="photo-container-1"> <div class="lg-video-object lg-kaltura"> <div class="video-wrap" data-source="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=publish" itemprop="video" itemscope="" itemtype="http://schema.org/VideoObject"> <span itemprop="name" content="Clutch found that 45% of millennials are investing to build a retirement fund."></span> <span itemprop="description" content="Clutch found that 45% of millennials are investing to build a retirement fund."></span> <span itemprop="thumbnail" content="https://mma.prnewswire.com/media/1430355/45__retirement.jpg?p=thumbnail"></span> <span itemprop="cdnid"></span> </div> </div> </div> </div> </div> </div> </div> <p id="continue-jump"> </p> <p><span class="xn-person">Paul Sundin</span> is a tax strategist at <u><a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3053626-1&amp;h=1312482817&amp;u=https%3A%2F%2Fwww.emparion.com%2F&amp;a=Emparion" rel="nofollow" target="_blank">Emparion</a></u>, a retirement planning provider. He says that there isn't one investment plan that works for everyone.</p> <p>&quot;There is no one-size-fits-all approach in investments, but there will be an investment that will be perfect for an individual,&quot; said Sundin. </p><p>Investment beginners should start by exploring their available options.</p><p><b>Millennials Primarily Invest in 401(k) Plans</b></p><p>Younger generations have a lot to consider when identifying the right investment account, like entry fees, commitment, and long-term goals.</p><p>While some millennials invest in traditional or Roth individual retirement accounts (IRAs) (29%), stocks (25%), and mutual funds (14%), the majority choose 401(k) plans (53%). </p><p>401(k) plans are the simplest choice. They are offered directly by employers and use payroll deductions to build up the accounts, increasing the incentive for millenials to invest.</p><p>&quot;If your employer matches your contribution in your 401(k), that can be free money to take advantage of,&quot; said <span class="xn-person">Ben Reynolds</span>, CEO &amp; Founder of <u><a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3053626-1&amp;h=223307795&amp;u=https%3A%2F%2Fwww.suredividend.com%2F&amp;a=Sure+Dividend" rel="nofollow" target="_blank">Sure Dividend</a></u>, a financial resource for investors. </p><p>Millennials can use their <span class="xn-money">(401)k</span> plan to set them up for a successful future.</p><p><b>Retirement is a Top Priority for Millennials </b></p><p>While retirement is years away for younger generations, millennials are making plans now. </p><p>Forty-five percent (45%) of millennials stated that retirement was the top reason they were investing and saving their money. </p><p>&quot;You can't comfortably live off social security when you retire,&quot; said Reynolds. &quot;Investing in retirement accounts, the market, or real estate can help you build a substantial amount for expensive medical and living costs after you retire.&quot; </p><p>Money management decisions made in the present will lead to a financially stable future.</p><p>Clutch surveyed 501 Americans in <span class="xn-chron">November 2020</span> to learn about their money management skills. </p><p>Read the full report here: <u><a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3053626-1&amp;h=3210186173&amp;u=http%3A%2F%2Fwww.clutch.co%2Faccounting%2Fresources%2Fsmart-money-tips-investment-beginners&amp;a=http%3A%2F%2Fwww.clutch.co%2Faccounting%2Fresources%2Fsmart-money-tips-investment-beginners" rel="nofollow" target="_blank">http://www.clutch.co/accounting/resources/smart-money-tips-investment-beginners</a></u></p><p>For any questions about the survey or a comment on the findings, contact <span class="xn-person">Anna Peck</span> at <u><br/><a href="mailto:[email protected]">[email protected]</a><br/><br class="dnr" /></u>(202) 350-4344</p><p>SOURCE Clutch</p><img alt="" src="https://rt.prnewswire.com/rt.gif?NewsItemId=PH65454&amp;Transmission_Id=202102010824PR_NEWS_USPR_____PH65454&amp;DateId=20210201" style="border: 0.0px;width: 1.0px;height: 1.0px;" /> </div> </div> </section>