Eva-katalin | E+ | Getty ImagesMillennials are holding and buying bond exchange-traded funds with more gusto than older investors — and that's likely not an ideal strategy, experts said.
That's a higher allocation than Generation X and baby boomers, who had respective allocations of 37% and 31%.
Millennials investing for the long term can afford to — and generally should — take more risk than older investors by allocating relatively heavily to stocks.
That's because stocks typically outperform bonds over decades, said Jenkin, a member of CNBC's Advisor Council.
"Millennials in their 30s probably shouldn't have 45% of their allocation in bonds," Jenkin said.
Persons:
Eva, katalin, Charles Schwab, X, Schwab, — doesn't, Ted Jenkin, Jenkin
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