THE INVESTMENTS OF A MILLIONAIRE MILLENNIAL.
It is the Twenty-First Century, and becoming a millionaire before the age of thirty-five is occurring more often than during any other century. Having a net worth of over one million dollars before reaching forty is beyond an astonishing accomplishment. It is puzzling how these individuals obtain such a large amount of money, but it is even more interesting to think about how they maintain their riches- if not accumulate more. Through smart, strategic investing, these young millionaires are continuing to grow their net worth with incredible speed.
One of the biggest assets to the wealthy Generation Y adults, or Millennials, has been technology. Computers to cell phones to the internet, this generation has been presented with instant gratification. Because of this instant gratification, there came a burning desire to continue the advancements. A side effect of this immediate satisfaction was the ability to swiftly communicate with other individuals. Being able to pick up a phone or press a couple of letters on a keyboard allowed society to connect itself with other societies, inside and outside their country. Quick communication coupled with a yearning to become better created a society that found worth in investing.
Interestingly, Millennials are a stark contrast to those from past generations in regards to investing. The past generations were fixated on investing in the stock market and their retirement fund. One such way to check on your stocks and investments is through researching how well the stocks are performing through Binary Uno. It also allows your to share stock information through their platform.
Because the Millennials have lived through one stock market crash, and have been thoroughly informed about the Great Depression, they hesitate to invest in the market. Instead, Millennials are investing in technological start-up companies, which is referred to as career freedom.
Career freedom allows creators such as Josh McFarland (founder of TellApart), Trip Adler (founder of Scribd), and Wade Eyerly (founder of SurfAir) to blossom in their creations, while placing their fingertips in smaller, start-up companies. Adler refers to this investing as “angel investing”, meaning that he will invest in five start-up companies, knowing that one will expand significantly and overshadow the money lost on the other four start-ups.
Wealthfront, an online financial advising company started by Adam Nash, has become one of the top financial counseling firms in the world. Because Millennials are accustomed to the instant answer to their question, it makes sense that an online financial advisor would grow as rapidly as Wealthfront did. Nearly 60% of Wealthfront’s clients are under the age of thirty-five, and are the influences behind Google, Facebook, Linkedin, Microsoft, Twitter, eBay, Amazon, and Apple. To say that Adam Nash’s company has become a top competitor to invest the Millennial’s money would be an understatement.
Mike Zhang, founder of Airsoft Megastore, is one of the many Millennials who invested their money in start-up companies. Along with his fellow Millennial millionaires, he is not worried about saving his money for the long run. Zhang is continuing to invest in small companies, while still living his life and indulging himself when he desires.
Wade Eyerly bluntly states the truth about Millennials, “The thing that sets the Millennials apart is travel patterns. They think nothing of going from Los Angeles to San Francisco for a few hours and then coming back.” This is the honest truth. Millionaire Millennials are concerned with living in the “now”, and they do not worry about how they will stay wealthy when they turn seventy-five. They are capitalizing on their ability to do what they want, the instant they want. The instant gratification has paid off so far. Here’s to hoping that their angel investments continue to be rewarding.
If you were a Millenial millionaire, where would you put your investments? Please write your comments below.