Dear Millennials, Let’s Be Friends. Sincerely, The Stock Market

2159087073_b2425e73ea_zDear Millennials,

I fear something is amiss in our relationship. A week doesn’t go by without me reading an article or watching a news segment about your utter distrust in me and disdain for those I work with – or in your minds, my puppeteers.

I do apologize for the scare I gave you in 2008 and the subsequent recession. I understand some of your loved ones may have been hurt by my failings (and fallings). It gave me no pleasure to see so many retirement accounts, index funds, mutual funds and other investments take a tumble. It terrified me to watch my Dow Jones peak at14,164 in 2007, and then fall to a mere 7,882 a year later.

You spent years hearing phrases such as “crisis,” “depression,” “TARP,” “bailout,” “too big to fail,” “subprime” and “collapse.”

Some of you were just graduating college and entering a difficult workforce, while others saw your parents’ savings and college funds significantly reduced. Undoubtedly, my erratic behavior impacted you all in some way, which is why today you aren’t interested in me as a bedfellow or even a friend.

I empathize with you that I may seem untrustworthy. But, despite all this, let’s be friends.

Read the rest on US News and World Report.

***

Long-time readers – yes, this is a refresh of a post I did in 2013. However, it’s completely different.

Picture from Michi W. on Flickr

Posted in US News' My Money Blog Tagged with: ,
13 comments on “Dear Millennials, Let’s Be Friends. Sincerely, The Stock Market
  1. I’ve lived through black Friday 1987, the dot-com crash, the financial disaster, the credit crunch, the euro-zone sovereign debt woes, and I’ll keep coming back.

    The trick? Knowing how to make money no matter which way the market is going and how to control your losses by using “defined risk” trades.
    The Starving Artist Canada (@blerghhh) recently posted…Trade report: seaching complete!My Profile

  2. I think millennials are too savvy to be suckered by Wall Street the way their Baby Boomer parents were. Too many of them are witnessing their parents accepting the reality that retirement is not an option, ever, despite embracing Wall Street’s marketing message disguised as retirement saving advice. The options for millennials to easily create and invest in their own enterprises are many–not so much for their parents. Yep, Wall Street needs a new business model and marketing shtick to suck in our smart young people!
    Kurt @ Money Counselor recently posted…What Black Friday Is and Is NotMy Profile

  3. moneystepper says:

    Excellent – I missed this the first time round! Very original indeed – good work Erin!

    Very little to disagree with there!
    moneystepper recently posted…The easy new way to invest: InvestYourWayMy Profile

  4. A fun take on the subject, and an original angle. Good stuff, Erin.
    Done by Forty recently posted…Quick HitsMy Profile

  5. Dear stock market, please be nice!
    How To Save Money recently posted…Save Money by Drinking WaterMy Profile

  6. Myles Money says:

    There’s a lot of good information here but despite the sound argument I can’t help thinking I’m not the only one who’s fearful with markets at nose-bleed levels and pumped full of newly-minted money. They say you shouldn’t try to time the market and that makes sense too, but anyone who has been fully-invested just before a crash will tell you that they wish they’d got out before the meltdown.
    Myles Money recently posted…To Hell With Credit Cards This Christmas… Take The #PayCash Challenge!My Profile

  7. Colin says:

    Dear Stock Market,

    I’ve invested in you since I was 14 and continue to this day. Once I got a full time job out of college, I started maxing out my 401k & IRA each year. You’ve treated me well and since I started my first 401k, I’ve gotten 12.7% return on all my investments since 2005. Sure, sometimes I felt like I was falling off a cliff with you, but I was smart and diversified and continued to buy when the market was down. I know buying & owning individual stocks is a game moreso for those with more time and expertise so I’ll stick with indexed mutual funds with low costs.

    Thanks for all the nice returns, particularly last year.

    Sincerely,
    A Recently Turned 34 “Millenial” who doesn’t feel like a Millenial.

  8. AndrewGG says:

    We can be friends… just let me win most of the time.

  9. I just want that stock market will be friendly and welcoming to those new investors. I wish so….
    Jayson @ Monster Piggy Bank recently posted…Investing, Gambling, and Entertainment in Personal FinanceMy Profile

  10. Amos says:

    The stock market should provide friendly rates and plans to those who are joining the market. That way it can make one feel the worth of investing in it.
    Amos recently posted…How Owning Your Home Will Change Your LifeMy Profile

  11. Not gonna lie, I definitely stopped investing for at least a year when the stock market crashed in 2008. I was younger, less experienced, and absolutely terrified of the stock market. I won’t repeat that mistake again!
    Kate @ Cashville Skyline recently posted…Falling Short on Goals: An Exercise in Self-LoveMy Profile

  12. I love the idea of the article. So fun! I think a lot of millennials are starting to turn to index funds, which is great since most people don’t want to spend the time doing research on individual stocks.
    Kalen Bruce @ MoneyMiniBlog recently posted…How to Take Back Your Mornings [Infographic]My Profile

  13. I love this article! It cracked me up and definitely rings true. In a market where no one entity has complete control, it is up to the ability of headlines and manipulation of varying complexity to decide what happens.

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