Millennials are investing disproportionately in target-date funds and broad market index funds because they believe that if the entire market index fails, the government will rescue it; they reason that personal risk management is futile, so they pool risk with everyone else knowing that systemic rescues are politically inevitable.
causalpending
Speaker
Neil HoweEvidence Quote
“they're convinced that if if they invest in any little...niche...fund and that thing goes down...no one's going to care if they go bankrupt...But if they're invested like everybody else...someone will have to back them up...if they go down 30%...the Fed and the Treasury...everyone's going to be there”
Source
Neil Howe: The Fourth Turning Is Now Raging...And It's Gone Global— Adam Taggart | Thoughtful Money®Created: 8/11/2026, 6:39:43 AM
My Notes
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