This Group Could Be Worth $24 Trillion by 2020 -- Here's How to Invest in Them
The millennial generation, the demographic group that's currently between 21 and 35 years old, could be worth up to $24 trillion by 2020, according to UBS, thanks to higher incomes as well as entrepreneurial activities and inheritance. This is a massive amount of wealth, and here's how you could set up your stock portfolio to profit from it.
One big driver of the wealth will be inheritance. In a recent report, UBS said the millennial generation will be one of the biggest beneficiaries of intergenerational wealth transfer in history. In addition, millennials are an entrepreneurial group -- millennials launch businesses twice as often as baby boomers -- and those who aren't growing their own businesses are entering the part of their careers where salaries tend to grow.
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Source: Fool.com