Recent market volatility has revealed there are two types of millennial investor, said financial advisor Tess Downing of FJY Financial. Younger millennial clients recognize that they have long time horizons and are therefore willing to accept market volatility and not react to it.
"They're not that nervous about it," said Downing, adding that these millennials realize the market will go up and down many times before they retire.
But there's also a group of slightly older, slightly more jaded young people who started working right in 2008, when the markets last tanked. "They saw their 401(k) [plan] drop by 40 percent, 50 percent, and those are the ones that still haven't gotten over ... [that] bear market," Downing said.