The author at Safetradebinaryoptions, Saqib Iqbal, commented on the findings:<\/p>\n
“The lack of confidence in stocks suggests that younger generations increasingly believe that a standard portfolio of stocks and bonds will not generate above-average returns over time. The stock market has had a really good run over the previous decade. However, 2022 has been wild for the markets. That’s what many young people are thinking.” <\/p>\n
![\"\"](\"https:\/\/lh4.googleusercontent.com\/7GOpx7W96Yip938_24IAL1YsN4036pSfd0VYNzOUs8vJkEoA8S5K7Rdj2bd5Ldk9bPhA9eg4J4ujRJtq72vs7ZbfOCxqaDOcy3Fd5I55Er2U5l-BbQIa0LX45Luvq2kaaY5VHPdYASYj4PbLIytd7VCZB5lHNeHqh4Nb7jJlGUEOuIUyKc72c6bdIyfsWKg5oeBjXw\")
Investable assets by population, Source: BoA<\/em><\/p>\n According to a Bank of America poll<\/a> of 1,052 persons with investable assets of more than $3 million, younger people are not choosing to invest in traditional assets.<\/p>\n Those aged 21–42 with more than $3 million in investible assets regarded cryptocurrencies and digital assets as the best option for developing long-term wealth. <\/p>\n<\/li>\n Digital currencies and online images were named as the top investment opportunities by 29% of respondents, compared to 12% for US equities and 15% for overseas or emerging market stocks.<\/p>\n<\/li>\n Almost two-thirds, or 64%, indicated they knew about cryptocurrency. <\/p>\n<\/li>\n 53% indicated they get crypto investing advice from social media.<\/p>\n<\/li>\n<\/ul>\n Many experts say that young people should have more exposure to the stock market due to their longer investing window. <\/p>\n This is a historically successful strategy. The benchmark S&P 500 generated an annualized average return of over 12% from its establishment in 1957 until the end of 2021.<\/p>\n So, why are millennials moving away from traditional assets? <\/p>\n Even though crypto markets have plunged this year, millennials are not letting it go. <\/p>\n Crypto fans have coined the term crypto winter to describe this year’s collapse, a creative phrase that indicates that a crypto spring and summer will follow. <\/p>\n Many see huge potential in cryptocurrency, and that’s why they are betting on them. <\/p>\n However, considering the crypto dip this year, none of the crypto claims has held any water. <\/p>\n Claims that they are safe havens from economic and political instability and provide a hedge against inflation haven’t worked this year. <\/p>\n However, one can’t completely deny their argument, as stocks are in red this year. <\/p>\n All summer, we have been hearing that the stock market may have bottomed out. <\/p>\n There is a lot of uncertainty around rising inflation, high-interest rates, and the possibility of a recession. <\/p>\n So, there is a substantial lack of interest in stocks among younger rich investors. Maybe stock market bearishness isn’t at its peak, but it’s very high.<\/p>\n Media Contact<\/span>\n
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