Sonders: Don’t Discount The Millennials

Charles Schwab’s Liz Ann Sonders says that, contrary to what some believe, the aging of the Baby Boomer generation doesn’t mean doom for the stock market. Sonders tells Morningstar that the Millennial generation that follows the Boomers is actually larger in terms of numbers, and that its members for the most part weren’t scarred by the “double bubble” period of the last dozen years, tend to be bigger risk takers, and have 401k plans in place that automatically have them invest in stocks, unlike many Boomers did early in their careers. As for the weak labor market that Millennials are now facing, Sonders says she thinks a lot of those issues are cycilcal and won’t last forever. She also talks about age and asset allocation.