Right now, the oldest millennial is 37 years old, and the youngest is 22.
At this point in life, you have many, many years ahead of you!
I know that a lot of millennials have reservations about investing in the stock market.
I understand that a number of you watched your parents, or other family members, suffer greatly financially during the Great Recession.
You watched large banks like Washington Mutual and Wachovia go under. You may have heard about the demise of Lehman Brothers and Bear Stearns. Those of you on the older end may have witnessed these events firsthand, as you entered adulthood and held your first jobs.
I must admit I’m a Gen Xer, and never in a million years did I ever think I’d see those banks go under.
That being said, though…
The stock market is still the best place to build long term wealth. The facts bear it out.
If you start young, and aggressively invest over your lifetime, you can create tremendous wealth.
Here are five stocks you should look at if you’re a millennial. All are poised for tremendous growth. They’re all companies that you’re either familiar with already or that do business you’ll be able to relate to.
1. Square (NYSE: SQ): Square is a payment platform for small and medium sized businesses. It is also one of the leaders in digital payments.
2. PayPal (NASDAQ: PYPL): PayPal is the leader in online e-commerce payments. It’s also one of the leaders in digital payments.
3. Teladoc (NYSE: TDOC): Teladoc is one of the leaders in the emerging field of telehealth. Telehealth allows you to see a doctor without having to physically go there. You’ve probably taken advantage of this service, and/or know someone who has. It’s very convenient for less serious conditions, and it’s becoming very popular.
4. Editas (NASDAQ: EDIT): Editas is one of the pioneers in CRISPR CAS8. CRISPR is a promising technology that aims to not only treat, but cure disease by using gene editing.
5. The Trade Desk (NASDAQ: TTD): If you’r a millennial, you probably subscribe to Netflix, Hulu, and/or Roku. The days of generalized ads on these platforms are coming to an end. In the future, ads will be targeted to individuals, based on information gathered by artificial intelligence. The Trade Desk is the aggregator of the ads that will be targeted.
To sum up: If your a millennial you need to invest aggressively.
Any one of these companies would make a good investment!
Disclaimer/Disclosure Statement: Information in this article is not intended to be a recommendation to invest in any stock. Rather, it is presented for readers’ education and consideration when making their own investment decisions. The author is long TTD.
My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)