Gen Z is ditching traditional investments for classic cars, sneakers and wine
What types of collectibles are Gen Z and millennial investors predominantly investing in according to the survey?
According to the Bank of America survey, Gen Z and millennial investors are predominantly investing in collectibles such as watches, classic cars, wine, sneakers, and antiques14. The study found that about 94% of these younger investors are interested in these collectibles, compared to only 57% of baby boomers4.
How much of the younger investors' portfolios, on average, are invested in stocks and bonds compared to older investors?
Younger investors, on average, have 47% of their portfolios invested in stocks and bonds, while older investors have about 74% invested in these traditional assets, according to a Bank of America survey. The survey found that 72% of younger investors believe it is no longer possible to achieve above-average investment returns by solely investing in stocks and bonds, compared to 28% of investors over the age of 44. Instead, younger investors are diversifying their portfolios by investing in alternative assets such as real estate, cryptocurrencies, and collectibles like watches, classic cars, wine, and antiques.
What percentage of Gen Z and millennial investors believe that traditional stocks are no longer the best opportunities for growth?
About 72% of Gen Z and millennial investors believe it is no longer possible to achieve above-average investment returns by solely investing in traditional stocks and bonds3. This view is held by only 28% of investors over the age of 44.