E*TRADE Study Reveals Young Investors Starting Earlier Despite Lifestyle Roadblocks
E*TRADE Financial Corporation shared results from its most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show young investors are engaging in the markets earlier than previous generations, yet they struggle to put their financial goals first.
- Young investors are starting their financial careers relatively early. More than two-thirds of young investors (68%) said they started investing at 24 years old or younger, versus 33% and 31% of Gen X and Boomers, respectively.
- Planning for retirement takes a backseat to lifestyle considerations. Young investors take more time looking for a house (17%), dating (16%), or planning for vacation (15%) than planning for retirement (12%).
- Yet they want to learn more. Almost half of young investors say they would take a Saving for Retirement class (45%) followed by Understanding the Markets and Trading 101, both at 24%.
- Instagram is the top social media platform to learn about finances. Young investors are most likely to use Instagram (40%) to learn about the markets and investing, followed by YouTube (39%) and Facebook (32%).
Interesting results. What do you think?