Are Millennials Better at Investing? (2 min read)

Are Millennials savvier investors than other generations? According to Detroit Free Press financial columnist Susan Tompor, 17.5% of millennials contribute to a Roth 401(k), enjoying tax-free withdrawals in retirement. In contrast, only 11.5% of baby boomers contribute to a Roth 401(k). At JPStudinger Group, we believe the number for both should be closer to 100%. Tompor cited unawareness of the tax-free advantages of investing in a Roth and the pretax option being the default when setting up a 401(k) as the reasons for the low number.  

If you're reading this you have no excuse, you are now aware.  

James Studinger had coffee with Susan Tompor, where they discussed the lack of knowledge around Roth 401(k)s and was cited in the article saying, "Now we have something that's infinitely better than pretax savings, and the country is doing what it always did. It's like we're still using rotary phones, even though we have cellphones". Don't miss out on tax-free income when you retire. Learn how at our wealth creation library's "Save Big With The Roth" section. 

We think you should read Susan Tompors entire column and if you know someone else who should, please share.