Remember, millennials: Red is good.
Millennials are probably tired of hearing that they’re not doing as well as their baby-boomer parents. But with every 1,000-point drop in the Dow Jones Industrial Average, their fortunes are brightening.
If they doubt it, millennials need look no further than mom and dad. The baby boomers entered the workforce from roughly 1966 to 1984. They couldn’t have timed it better because U.S. stocks were in an epic funk during those 19 years. The S&P 500 Index gained just 3.2 percent annually while inflation grew by 6.5 percent, which means the real value of U.S. stocks declined by a stunning 3.3 percent a year for nearly two decades.