The stock market is more expensive today than it was when baby-boomers were starting their careers, writes Bloomberg columnist Nir Kaissar. “Which means,” he adds, “that millennials can’t expect the same payoff from U.S. stocks as their parents.”

That said, he writes, since millennials will soon enter their peak earnings years, they should “root for recent market turmoil to turn into a long rout. And if their wish is granted, they should shovel as much money as possible into the market.”

Kaissair points out, however, that it’s not that simple. He cites a survey conducted by Allianz Life Insurance Company of North America in which 48% of millennials participants said they contribute 10 percent or more of their income to their 401(k) plans (versus 44 percent of baby-boomers). They are likely to suffer, therefore, in the event of a sell-off.

Further, more than half of millennials surveyed also said they would be “unlikely to ever invest in the stock market.” Even if they were, he writes, they “may not have the nerve to buy after a bust.”

The article concludes: “So here’s my wish for you, millennials: May Mr. Market grant you a long bear market and the wisdom to know what to do with it.”