Are millennials risk-averse? Well, yes and no.
"Yes, absolutely," said Marguerita Cheng, certified financial planner and CEO of Blue Ocean Global Wealth. "I don't like to generalize, but I have witnessed this firsthand.
"Some younger investors … are extremely risk averse because they have seen their parents lose their jobs, lose equity in their homes and experience stock market declines after 9/11, Enron and the global financial crisis," she added.