There Has Never Been A Better Time To Invest In MillennialsJanuary 15, 2020
Lately, there has been quite a bit of talk surrounding an event that is becoming known as the great wealth transfer. Essentially, this event describes the transfer of wealth from baby boomers to millennials, a move that is expected to lead to inheritances of more than $68 trillion and a class of consumers holding five times more wealth than they have today.
The bottom line here is that millennials will soon be where the money is. As a result, investors that make changes to prepare for this wealth transfer have the potential to reap serious rewards.
One of the best ways to claim your piece of the pie here would be to invest in quality companies that are geared to supporting the millennial lifestyle. This is a lifestyle where pen and paper simply don’t exist, a lifestyle where simplicity is more valuable than intricacy and a lifestyle where the latest and greatest in tech take center stage.
So, what publicly traded companies should investors be looking at in order to take advantage of the great wealth transfer? Here are a few names to pay close attention to.
Uber (NYSE: UBER): Transportation For The Millennial Consumer
Uber is a company that has thrown a wrench in the taxi and transportation industry. The company’s business model is centered around the Uber app. With the application active, users can request rides to the destination of their choice.
Importantly, due to the fact that Uber drivers are consumers who use their own vehicles to make extra money with the app, the company has cut down the cost of a taxi-like service considerably.
For millennials, this is a match made in heaven. First and foremost, owning a car comes at a cost and many millennials are finding that opting to use Uber, rather than owning a car, is a much lower cost option.
Moreover, millennial consumers do just about everything on the phone these days. So, ordering a ride from a mobile phone application just seems to fit into the lifestyle that these consumers are so used to living.
All in all, Uber provides a low-cost, simple and technologically savvy solution to traditional transportation issues. When it comes to millennials, you simply couldn’t ask for more. While Uber has lost over 20% in value since its IPO a short while ago, there’s a strong argument that the current valuation of the company, coupled with its focus on the millennial consumer, make the stock one to watch incredibly closely.
Mogo (NASDAQ: MOGO, TSE: MOGO) – Money Management The Millennial Way
As mentioned above, the millennial consumer does just about everything on his or her smartphone. From research to ordering products and even dating, today’s smartphone is the millennial’s doorway to just about everything.
Mogo is a money management application that has the millennial focus at the center of just about everything it does. Through the Mogo app, consumers can check their credit…