Four Tips

Murphy has four basic tips for millennial investors.

* Do not try to time the market. Get into stocks, bonds and other assets. Invest for the long-term.

* A target-date fund, which adjusts its asset allocation as you age, is a great solution to ensure your investments are properly allocated for retirement.

* Avoid having too much cash. You are "treading water" return-wise if you do not invest it.

* Use time to your advantage. The power of compounding interest is key to achieving savings goals.

When it comes to individual stocks, TD Ameritrade says the stocks most traded by millennials (18-34) so far in 2016 are Apple, Netflix Inc., Amazon.com Inc. and Facebook Inc.

"They are investing in what they know," says Nicole Sherrod, managing director of trading at TD Ameritrade.

Indeed, Facebook and Apple have been highly profitable for Wishingrad. He sold his approximate $10,000 Apple investment, made as a teenager, for a cool $80,000. His Facebook investment more than quadrupled.

Memko, meanwhile, has one big investing regret: That he does not have more money to invest at lower valuations this year.