You are here: Home - Investing - Experienced Investor - News -

Millennials are doin’ it for themselves – Legg Mason

Written by:
Almost half of UK millennials want to start a business, according to Legg Mason’s 2017 Global Investment Survey, another sign that the next generation are shaking up established working patterns.

This is the group’s fifth annual survey of investor attitudes and sentiment, drawn from 15,300 people around the world.

Nicknamed ‘millinnipreneurs’, the proliferation of internet and technological use has led UK millennials to embrace entrepreneurship. In contrast, less than a fifth of baby boomers (18%) see working for themselves as a work-life aspiration.

With millennials potentially working for far longer than previous generations, 41% of the millennials aim to find a job which appeals to their interests, regardless of income. In comparison, only 18% of baby boomers are comfortable with such an approach.

Justin Eede, head of Europe and Americas distribution at Legg Mason, said: “Millennials have a technological fluency affecting most aspects of their lives, including the way they approach starting a business using the internet as online tool belt of information.

“The data suggests baby boomers prefer financial stability and job security as opposed to millennials who are willing to risk those factors in pursuit of entrepreneurship. These statistics reveal the extent to which the drive to create a start up is growing among the younger generation and it will be interesting to see how the industry reacts.”

The survey also found that investors are increasingly employing technology to make investment decisions. Emerging market investors – led by Asian millennials – are well ahead of the curve in terms of technology use when making or executing investment decisions.

That said, most people still desire the human touch. They want to know that there is a human behind the machine, guiding its application and providing customer service.

The survey also found that baby boomers are not as financially secure as many believe. Baby boomers said they have many goals unmet and are worried they will not have the income they need for a comfortable retirement. Income is the top concern among British investors.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
petrol price
Bad news for drivers in the run up to Christmas

Petrol and diesel prices could rise by up to 3p per litre in the run up to Christmas, the RAC...