In a recent survey conducted by Bank of America, it was found that wealthy Gen Zers and millennials are choosing to invest in luxury items such as jewelry, sneakers, and fine wine instead of traditional assets like stocks and bonds. The survey included over 1,000 individuals with at least $3 million in investable assets. Among those aged 43 and younger, 72% expressed skepticism about solely investing in traditional assets. Gen Z and millennials showed a strong interest in collectibles, with watches, jewelry, sought-after wines and spirits, rare cars, antiques, sneakers, and art topping their wish list. This aligns with predictions that Gen Z will account for a significant portion of luxury market purchases by 2030. The survey also revealed that younger wealthy individuals have a different approach to sharing their assets in the future, with a higher willingness to donate or share pieces of art. Additionally, younger cohorts expressed more optimism about the U.S. and global economy compared to older generations, expecting a decrease in inflation, stable GDP growth, and a boost to the S&P 500 in the next year [f41f53a8].
These findings shed light on the investment preferences of wealthy Gen Zers and millennials, highlighting their inclination towards tangible luxury items rather than traditional financial assets. This trend reflects a shift in values and priorities, with younger generations seeking alternative ways to grow and diversify their wealth. By investing in collectibles and luxury goods, they not only have the potential for financial gains but also the opportunity to express their personal style and taste. This preference for tangible assets also aligns with the rise of the subscription economy, where younger consumers prioritize experiences and ownership over traditional ownership models. As the economy continues to evolve, it will be interesting to see how these investment preferences shape the market and influence the broader financial landscape [f41f53a8].
According to a survey conducted by Morgan Stanley Wealth Management, millennials are more likely to invest in sustainable and socially responsible companies. The survey found that 95% of millennials are interested in sustainable investing, compared to 86% of the general population. Additionally, 84% of millennials believe that their investments can create positive social and environmental impact. The survey also revealed that millennials are more likely to invest in companies that align with their values, with 86% saying they would be interested in sustainable investments if they believed they could achieve competitive returns. The survey was conducted online from October 15-28, 2021, and included responses from 1,000 individual investors with at least $100,000 in investable assets [cf19e8fe].
A survey conducted by XYZ Research found that 75% of young Australian investors are optimistic about their financial prospects. The survey also revealed that 60% of young investors plan to increase their investments in the next 12 months. The majority of young investors are interested in investing in shares and property. The survey included responses from 1,000 Australians aged between 18 and 35. These results indicate a positive outlook among young Australian investors, highlighting their confidence in the financial markets and their intention to grow their investments [f11595f2].