Although not as many millennial households own mutual funds as those of other generations, millennials are buying funds earlier than their elders did.

That's according to a survey by the Investment Company Institute that found that, while less than a third of adult millennial households actually own mutual funds, the median age at which they bought them was 23.

GenXers didn't start buying mutual funds till the ripe old age of 26, while baby boomers didn't touch the stuff till they were in their thirties.

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