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Millennials may be more like boomers than we realize

What makes a millennial tick?

Much ink has been spilled trying to answer that question, and the conclusion is often that people born between the early 1980s and the late 1990s are entitled and self-involved, and less than ideal employees.

But according to some surveys, millennials may have more in common with older Americans than you think.

Take investing.

According to a new UBS survey on investor behavior, millennials—which it refers to as Next Gen—are "extremely conservative, savers not investors and not nearly as self-directed as one would expect."

(Read more: Broke millennials may want to check out this app)

Twenty-somethings said the best financial advice they received was about the value of saving, in contrast to members of Gen X, who cited investing as the most valuable. Millennials also keep cash on hand, as boomers do.

"The Next Gen investor is markedly conservative, more like the WWII generation who came of age during the Great Depression and are in retirement," UBS said.


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