The U.S. Americans
The survey found that younger Americans are more open to investing this year than older generations, and many are getting investment advice from non-traditional sources like social media. And, while there’s interest in alternative investments, many of those surveyed said they don’t know much about them or how to get started.
– Older generations rely heavily on traditional methods of investing, and may be missing out on more accessible forms of income generation, especially during retirement;
– A majority (51%) anticipated being just as proactive in 2022 as they were in 2021; Millennials (47%) and Gen Z (44%) were more likely than their older counterparts to be more proactive with their financial investments in 2022;
– A majority (54%) cited funding their retirement as a financial goal they currently want to achieve through their investments;
– Other goals included building an emergency fund (41%), passive income (40%), paying off debt (37%), and saving for a big purchase (31%).
The survey also looked into where Americans are getting their investment advice, and found that social media is becoming an important source of information among the younger generations.
Millennials were more likely to seek finance or investing information from YouTube (38%), podcasts (18%), and TikTok (17%) than older generations. Similarly, Gen Z were more likely to use online search (56%), YouTube (47%), TikTok (29%), and online blogs (20%).
Older generations still rely heavily on financial professionals and institutions to help guide their financial decisions, with more than 60% of the Silent Generation (those born between 1928 and 1945) looking to financial professionals for investment advice. ■