Millennials are probably the most scrutinized generation ever. Why? Because technology today enables vast amounts of personal data collection and this group loves to use technology. Thus, they have given analysts the raw data they need to look into their behaviors individually and as a group. Despite their love of technology, it seems as though the trend for Millennial savings rates is not good despite technology tools that are available to help them achieve their savings goals.
In a recent article for CNBC, one commentator observed:
“Millennials should look into personal financial management apps such as Digit and Acorns among others, that provide users with real time insight into their spending habits and make it easier to allocate money to their retirement savings with a few taps on their phones.”
We would suggest they also look at the benefits of making gold and silver a part of their long term savings and investment strategy. Instead of Digits and Acorns, why not nuggets? While many younger people do not trust the banking system, they haven’t embraced owning physical gold and silver. It’s possible that one reason is the industry’s underutilization of technology, making access to gold and silver a cumbersome and unattractive process.
Of course, this strategy isn’t just for Millennials. Anyone who understands the benefits of owning gold and silver bullion can use OWNx |Automatic| as a way to diversify their long term savings strategy. However, if you are or know someone between 18 and 34 years of age, they may benefit from knowing what technology can do for them in the precious metals investment space.