Born between 1980 and 2000, millennials are quickly taking over the U.S. economy. The U.S. Census Bureau predicts that, by 2019, millennials will overtake baby boomers as the largest population cohort in the nation. As America’s demographics shift, investors need to keep track of the new majority’s life goals and shopping patterns.
In addition to indulging in social media and organic food, millennials by in large prefer spending money on experiences rather than possessions, according to a 2017 study by the Harris Group. Transportation ETFs, like the U.S. Global Jets ETF (JETS), are positioned to take advantage of this outlook.
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