Do-it-yourself investment opportunities are very appealing to this technology-savvy generation, especially for those who feel they don't have enough money to bother a financial advisor. While many advisors may agree, it's time to consider the long game.
A smart financial advisor should consider offering mentorships or portfolio reviews for do-it-yourself investors within a certain asset range. By demonstrating a commitment to their early success, an advisor will be in a position to help them with bigger opportunities down the road.
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3. Remember times are changing.
Generation X and millennials have introduced us to the term "adultolescence"—delayed adulthood or extended adolescence.
They are marrying later, having children later and changing traditional expectations around gender roles. In fact, in 1989—when a large portion of baby boomers entered the workforce—the Department of Labor Statistics reported that only 19 percent of wives earned more than their husbands (in households where both husband and wife had earnings). Twenty-two years later that number had jumped by nearly 50 percent.