A recent survey in the US, quoted by Forbes, says that millennials are putting their money where their morals are and leading a socially responsible investing revolution.
It found that, far from being a narcissistic bunch, most millennials are socially and environmentally conscious; more than any other generation, they are prepared to actively support causes they believe in.
Millennials care more about the global community, the environment and social justice than they do about money which is reflected in the brands and companies they use and where they place their investments.
Millennials are willing to sacrifice financial gains by paying more for products, accepting a lower salary and securing lower profits, all to have a positive effect on society; they genuinely care about having a positive impact on the world.
wants companies to be honest and share what good they are doing in the world
The survey found that 9 out of 10 millennials would switch brands if necessary to an alternative associated with a good cause; this generation wants companies to be honest and share what good they are doing in the world in the belief that when they do, it will be rewarded.
Investing in the Environment
Socially responsible investing is not just an addition to millennials’ investment portfolios, it is a primary focus; the survey found that 92% of high-net-worth millennials are most likely to put their whole allocation into responsible investment options over anything else.
Such findings genuinely point to an investing revolution as millennials apparently have a different perspective, and care more about their impact, than previous generations.
Like none before them, millennials have openly declared that climate change is their biggest global concern; many have changed their lifestyle to protect the environment and reduce their collective carbon footprint.
climate change is their biggest global concern
They are keen on smart-energy technologies and clean energy, and are more inclined to invest into this market than other any other group; accordingly, millennials actively seek environmentally mindful stocks to place their investments in.
One example of responsible investing they target for their portfolio is solar energy which is known to mitigate climate change, and with increasing global awareness is primed to see a sharp growth, making it ideal for investors today.
Globally Aware and Digitally Savvy
Technology is developing at such a rapid pace that it is making investing more accessible than ever through our computers, tablets and smartphones; investing has never been easier.
The proliferation of digital platforms and apps that assist with investment or personal finances, it has become simple for young people today to both learn about the financial industry and to apply their knowledge out in the real market.
there will be a private wealth transfer of an eye-watering $30 trillion
Forbes regularly references the investment apps and technology available in the States that make the whole process much less daunting; we are not so far behind on this side of the Pond, and having these tools at hand has engaged and empowered a whole new generation of investors.
It is estimated that in the coming decades, there will be a private wealth transfer of an eye-watering $30 trillion to the millennial generation; it will be crucial for them to have a working knowledge of things financial and become investment savvy early on.
The survey concluded that with millennials making up the top entrepreneurs of today, companies worldwide are being pushed to adopt fairness and global consciousness in their decision making; it predicts that this wealth (and the future of this world) will be in good hands. Phew.