Here is a nice article proofing that point. Even millennials who have little trust in investing industry infrastructure and products should recognize that. If they don't like funds they can always invest in ETFs or robo-advisors.
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For long-term investing, just put money in an index fund on a recurring basis and go back to living your life and you’re done. You don't need a financial helper to do that. If productivity increases, the economy does well. Then, barring nuclear war or an asteroid destroying the planet, you will compound your money at a reasonable rate for the rest of your life.
http://www.bloomberg.com/news/articles/2015-11-11/the-five-biggest-myths-about-saving-money-according-to-a-millennial
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