Millennials investing early, despite negative outlook

July 22, 2013

Millennials are beginning to invest for the future at a much younger age than their parents' generation did, undeterred by higher tuition costs, reports of shrinking job prospects and higher housing prices, according to a study by TD Bank. The “TD Investor Insights Index” reveals that the average Gen Y investor reported making their first investment at age 20. In contrast, previous generations waited to make their first investment until closer to 30, with Baby Boomers holding off until age 27. "Despite the perceived Gen Y plight, we're seeing young investors take action early on when it comes to planning for their financial future," said Cynthia Caskey, a VP and portfolio manager at TD. "While family support can certainly help shape good financial habits, millennials face a very different financial reality than their parents did.” TD News Release | Infographic