Financial expert says Gen Xers too timid with money
Ron Palastro advises Millennials on money matters, too
Millennials are far too young to be thinking about saving money for retirement, or are they?
“I have clients that are Millennials,” said Ron Palastro, a financial advisor. “Sure, they’re decades away from retirement. But they’re looking toward the future. They want to be smart about money.”
Palastro, who has been working in finance for 29 years, said he sees some interesting and revealing patterns in investors when they’re broken down by age group. He shared his thoughts with the Brooklyn Eagle in a recent interview. His company, Cobblestone Wealth Advisors, has its offices at 1440 61st St. in Borough Park. But Palastro, who grew up in nearby Bensonhurst and graduated from Xaverian High School in Bay Ridge, has clients from all over Brooklyn.
There are 80 million Millennials in the U.S. The generation is roughly defined as people who were born between 1980 and 2000. They tend to be smart and confident with money, Palastro said.