Exploring Millennial Investment Preferences: An Empirical Study in Ahmedabad and Gandhinagar

Abstract

Investors play a crucial role in the growth of the economy. They make rational investment decisions, and their criteria change at different stages of their life cycle. . By mobilizing funds and directing them toward investments, it helps to create capital. Understanding the behavioral tendencies of distinct age cohorts is vital in the dynamic financial landscape to customize efficacious financial tactics and goods. Of these cohorts, millennials—those born between 1981 and 1996—represent a sizable portion whose financial habits are changing the way that people think about investing and saving money among these investors, millennials are a significant group whose decisions greatly influence the economy. This research aims to examine the investment choices made by millennials. The main aim is to know the impact on investment decisions due to the impact of gender, occupation, and Income level of investors. To measure the association, descriptive research was conducted with a sample size of 224 respondents from Ahmedabad and Gandhinagar city. Structured questionnaires, utilizing a 5-point Likert scale, were used for data collection. Additionally, the research seeks to analyze how income level and annual savings influence the selection of different investment options among investors. Furthermore, it aims to understand how occupation affects the investment objectives of millennials for investment management purposes. For the study, the researcher used SPSS for data analysis.  Percentage analysis, T test and ANOVA were used to find the significance of the hypothesis. The present study uncovers a notable correlation between investment choices and the gender, occupation, and income level of individuals.