Nearly half are investing their money for less than 5 years
Gen Z investors are putting their savings at risk: here’s why. Source: shutterstock.com
According to Barclays, many Gen-Zers are taking a riskier approach to investing, looking to “get rich quick” by investing for the short-term.
Short and sweet is the aim of the game for 18-24 year old investors, with 49% planning to only invest money for 2-5 years. Meanwhile, 21% of Gen Z investors say they are investing to take advantage of the market and 16% plan to ‘play the markets’ to get rich quick.
This short-term investment view is not shared by older investors. Millennials are more life-goal motivated, with 31% investing towards a specific goal, such as buying a house.
Nearly two-thirds of over 55s say they are investing for their long-term future and, on average, 45-55 year olds are planning to invest their money for over 10 years.
The survey has found that younger generations have taken more risk with their investments over the last year, with 30% of 18-24 year olds admitting to upping their risk appetite, compared to only 18% of 35-44 year olds.
The last year has also seen younger investors pick up investing habits that are traditionally viewed as unfavorable – a quarter of Gen Z investors admit to checking their portfolio more often. At the same time, 17% are placing trades more frequently and 14% of young investors admit to making more speculative investments since the start of the pandemic.
We’ve reported that JPMorgan Chase took 40% stake in Brazilian bank.
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