Millennials are becoming increasingly apprehensive regarding the impending recession and the economic downturn triggered by lockdowns globally owing to coronavirus outbreak.
Per the survey conducted by retail predictive analytics company, First Insight, the novel coronavirus is influencing spending decisions of 54% of millennial population. Notably, the survey was undertaken prior to any reported deaths in the United States, which has now crossed 1,000, as of Mar 26, 2020, according to a Statista report.
In this scenario, the “concerned” and “worried” generation can opt for an alternative investment that gives better growth prospects over traditional savings options amid falling interest rates and sinking bond yields.
Millennials have been known for their quirky ideas and distinct views on lifestyle. Among these, the idea of saving big for early retirement is quite a popular one. Some even aspire to retire as early as 40.