How millennials listen to financial advice

I was at a financial journalist workshop in New York last week and discovered many interesting facts, not the least of which is that everything you always feared about reporters is true — but I digress.

Actually, I don’t.

If there’s one common thread among correspondents, it’s that they never stop asking questions. Sometimes, though, they’re not satisfied with the truth behind the answers.

Such was my case at this workshop.

A panel of millennial bloggers had just finished retelling their respective stories of traveling from innocent naïfs to much-in-demand generational chroniclers and — this is the important part — advisors.

They aren’t professional financial advisors, they’re reporters, but they write about financial topics.

And many millennials read their posts. And, presumably, many millennials heed their counsel.

What struck me most: they genuinely want to help their generation.

When the Q&A came, I had to ask the obvious question. What was that question? Before I go there, you need to know where I had been.

I had just come from another conference where I had a chance to ask a question to a panel of happy retirees.

They mentioned they wished they knew what they know now when they were younger. That turned into a nice story (see, “7 Tips Present Day Retirees Wished They Knew When They Were 24,” FiduciaryNews.com, October 13, 2015).

I was sitting on a great piece of link-bait (it even had an odd number in the headline!) that represented the kind of advice any millennial would want.

So I asked the panel to answer my question honestly: “If a group of retirees revealed the secret to a comfortable retirement, would millennials listen to them, or do millennials only listen to other millennials? Who will millennials listen to?”

The panel paused, glanced knowingly at each other, then looked at me.