Investment Trends Among 18-29 Year Olds
In the wake of the recent stock market crash, the percentage of 18-29 year olds investing in the stock market has dropped significantly. According to a recent survey, only 27% of 18-29 year olds are investing in the stock market. The survey also revealed that 35% of 18-34 year olds are turning to social media to research investment ideas.
While the stock market has been volatile, cryptocurrency rates have been on the rise. A smartphone app shows cryptocurrency exchange rates in April. Chris Delmas/AFP via Getty Images.
Despite the recent decline in stock market investments, young adults are still making investments. The average American under 35 has $13,000 saved for retirement. 62% of Americans aged 18 to 29 have some retirement savings, but only 30% percent feel on track.
The stock market is not the only area where young adults are investing. Twenty-seven percent of voters aged 18 to 29 cast ballots in last year's midterms, arguing they fail to turn out. This is an increase from previous years and suggests that more young adults are becoming politically active.
Young adults are also investing in their careers. More than half said they moved back in with family in the past year. Financial hardships forced millions of young adults to move in with family in order to save money.
In addition to traditional investments, young adults are investing in technology. A $1,000 investment in Apple 10 years ago, for example, would be worth $5,000 today. The percentage of young adults owning stocks did reach a high of 43 percent, but has since dropped to 27%.
The survey also found that almost half of all American men aged 18 to 29 say they have invested in, or are interested in investing in, technology stocks. Technology stocks have been a popular investment choice for young adults, making the industry market worth over $3 trillion.
Overall, it appears that young adults are still investing in a variety of areas, including the stock market, cryptocurrency, retirement savings, and more. Although the percentage of 18-29 year olds investing in the stock market has decreased, young adults are still making investments in different areas.