Back to top
background image

Uncertain Futures: 7 Myths About Millennials and Investing Data Set Terms of Use

FINRA Investor Education Foundation
Uncertain Futures: 7 Myths About Millennials and Investing Data Set Terms of Use
Last modified: September 25, 2018

Many millennials do not invest, which can hinder their ability to achieve important goals, like purchasing a home or retiring comfortably. Beyond income constraints, what barriers, perceived or real, prevent millennials from owning investment accounts? Do millennials’ views on investing differ from Gen Xers and baby boomers? Within the millennial generation, are there significant demographic differences in investing behaviors and attitudes? How do millennials view the financial services industry and financial advisors? And what do millennials think about emerging financial technologies, like robo-advisors? These and other questions are addressed by a new research study titled, Uncertain Futures: 7 Myths About Millennials and Investing.

This study explores the financial behavior and attitudes of three millennial groups—those with no investment accounts, those with only retirement accounts, and those with taxable investment accounts (most of whom also have retirement accounts). It also compares millennials with taxable accounts to Gen Xers and baby boomers with taxable accounts to determine how the investing behavior of these three generations differs. Last, this study examines the pathways that millennials follow to investing, and why some have no investment accounts.

1. Agreement.

a. These Terms of Use govern access and use of  the data from the Uncertain Futures: 7 Myths About Millennials and Investing research study (Data). By accessing and using the Data, you certify that (1) you have read and understand these Terms of Use and (2) you agree to these Terms of Use and the terms and conditions displayed at: http://www.usfinancialcapability.org/terms.php. By agreeing to these Terms of Use on behalf of an organization, you certify that you have the authority of that organization to enter into these Terms of Use. If you do not agree to these Terms of Use, you must cease all use of the Data. The Foundation reserves any rights, privileges, or immunities not expressly granted under these Terms of Use.

b. The Foundation reserves the right to change these Terms of Use from time to time at its sole discretion. Your access and use of the Data constitutes your acknowledgement of, and agreement to the updated Terms of Use. Your access and use of the Data will be subject to the most current version of the Terms of Use at the time of such use.

2. Changes to the Data. The Foundation reserves the right to modify or discontinue the Data with or without notice to you. The Foundation will not be liable to you or any third party should it exercise its right to modify or discontinue the Data. If you object to any such changes, your sole recourse will be to cease access to the Data and any data accessed through Data. Continued use of the Data following notice of any such changes will indicate your acknowledgement of such changes and satisfaction with the Data as so modified.

3. Ownership. Data are a proprietary product and the Foundation reserves all proprietary rights in and to the Data. You acknowledge and agree that FINRA and the Foundation are the exclusive and rightful owner of, and shall retain all worldwide right, title and interest in and to, all registered and unregistered, and any future registered, names, trademarks, trade dress, service marks, domain names, and logos, or any derivation thereof, and all goodwill therein, of FINRA, the Foundation and their affiliates ("Licensed Marks"). Nothing contained in these Terms of Use shall serve to transfer to you any ownership or proprietary interest in the Data or the Licensed Marks.

4. Permitted Uses. The Data provided shall be used ONLY for your own personal or professional use, for academic research and publication, or for non-commercial purposes consistent with the promotion of just and equitable principles of trade and the protection of investors and the public interest.

All other uses are prohibited unless approved in writing by the Foundation.

5. Restrictions. Notwithstanding the permitted uses of the Data described in Section 4 of these Terms of Use, in no case may you:

a. decompile, reverse engineer, disassemble, distribute, or create improvements from the Data or any portion thereof, or attempt to discover any source code, protocols, or other trade secrets in the Data;

b. obtain or attempt to obtain unauthorized access to the Foundation’s network;

c. use, export, or re-export the Data in violation of applicable laws or regulations;

d. sell, lease, loan, distribute, transfer, or sublicense the Data or access thereto or derive income from the use or provision thereof, whether for direct commercial or monetary gain or otherwise;

e. use any process to monitor or copy the Data in bulk, or to make voluminous, excessive or repetitive requests for data, or use any data mining, scraping or harvesting tools (including robots) or any similar data gathering or extraction tools;

f. use any device, software or routine to bypass any software or hardware that prohibits volume, excessive or repetitive requests for data;

g. attempt to interfere or interfere with the proper working of the Data, including taking any action that imposes an unreasonable or disproportionately large load on the Data or the Foundation;

h. use the Data in any unlawful, fraudulent, misleading, obscene, harmful, threatening, harassing, defamatory or hateful manner, that invades the privacy of any third party, for any unlawful purpose, or in any manner inconsistent with these Terms of Use;

i. use the Data or Licensed Marks in a manner that infringes, violates or misappropriates the Foundation’s, its affiliates, or a third party’s intellectual property rights;

j. display the Data or the Licensed Marks on any website or in any manner that disparages the Foundation or is otherwise threatening, vulgar or inappropriate as the Foundation determines, in its sole discretion; or

k. use the Data for any purposes for which you have not been granted written permission by the Foundation.

The Foundation reserves the right to suspend or terminate your access to the Data with or without notice to you, in the event that the Foundation believes that you have violated any provision of these Terms of Use.

6. Requests. All requests for permission to access or use the Data for a purpose or in a manner not otherwise permitted under these Terms of Use must be made in writing to the Foundation, clearly stating the proposed purpose and manner of the use. Requests must be submitted to:

FINRA Investor Education Foundation, 1735 K Street, NW, Washington, DC 20006. Attention: Gary Mottola (or via email at gary.mottola@finra.org)

The Foundation, in its sole discretion, may approve or reject any requests.

7. Disclaimers; Limitation of Liability.

a. YOU ACKNOWLEDGE AND AGREE THAT THE DATA IS PROVIDED "AS IS" AND "AS AVAILABLE" WITH ALL FAULTS AND THAT YOUR USE OF THE DATA SHALL BE AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED BY LAW, THE FOUNDATION, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AFFILIATES, AND LICENSORS (THE “FOUNDATION PARTIES”) DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE DATA AND YOUR USE THEREOF. FOUNDATION MAKES NO WARRANTIES OR REPRESENTATIONS ABOUT THE QUALITY, ACCURACY OR COMPLETENESS OF THE DATA AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY: (I) ERRORS OR OMMISSIONS IN ANY CONTENT; (II) TECHNICAL ERRORS AFFECTING THE DATA IN ANY WAY; (III) BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE WHICH MAY BE TRANSMITTED TO OR THROUGH THE DATA BY ANY THIRD PARTY; AND/OR (IV) LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE DATA.

b. NO ADVICE, INFORMATION, OR DATA, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM THE FOUNDATION OR THROUGH OR FROM USE OF THE DATA SHALL BE INTENDED TO PROVIDE ANY LEGAL, TAX, INVESTMENT OR FINANCIAL ADVICE OR TO BE COMPLETE ON ANY SUBJECT MATTER CONTAINED THEREIN.

c. IN NO EVENT WILL THE FOUNDATION PARTIES BE LIABLE TO YOU FOR ANY DIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING LOSS OF USE, DATA, BUSINESS OR PROFITS) OR FOR THE COST OF PROCURING SUBSTITUTE PRODUCTS ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OF USE OR THE USE OR DISTRIBUTION OF THE DATA, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, AND WHETHER OR NOT THE FOUNDATION HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE. SOME JURISDICTIONS MAY NOT ALLOW LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES SO THIS RESTRICTION MAY NOT APPLY.

8. Privacy. In consideration of your use of the Data, you agree that the Foundation may collect generic tracking data related to your or your end users’ use of the Data in accordance with the Foundation website Privacy Policy found at https://www.finrafoundation.org/finra-investor-education-foundation-website-privacy-policy.

9. Severability. If a court of competent jurisdiction holds any provision of these Terms of Use to be unenforceable, then that provision is to be construed either by modifying it to the minimum extent necessary to make it enforceable (if permitted by law) or disregarding it (if not). If an unenforceable provision is modified or disregarded in accordance with this Section, all other provisions of these Terms of Use are to remain in effect as written.

10. Governing Law. These Terms of Use constitute the entire agreement between you and the Foundation with respect to the subject matter hereof, and supersede all previous agreements between you and the Foundation with respect to such subject matter. These Terms of Use shall be construed in accordance with the laws of the State of New York, without regard to its conflict of laws rules. You and the Foundation agree that any claim arising under these Terms of Use shall only be brought in the state or federal courts located in the County and State of New York. You and the Foundation agree to submit to personal jurisdiction in that court and expressly waive any right to a jury trial.