The younger generation invests in “art”, not “deeds”…
The younger generation, who is skeptical of traditional investment forms such as stocks, resorts to new generation alternatives. Although the rising investment form of the last few years has been crypto money, this is not the choice of a significant part of the Y generation.
A survey by Bank of America shows that Generations Y and Z, who are described as “new owners of money”, are ready to make very different decisions about investment. While 66 percent of young people invest in works of art, this rate drops to 23 percent in older individuals. In addition, 83 percent of young people and 53 percent of old people bought at least one piece of work in the last year. Another finding is that two-thirds of generations Y and Z say that they love art for its aesthetic value. But let’s face it, 42 percent of young people agree that once the work becomes “valuable”, it’s “very likely” to sell.
Other prominent findings of the survey conducted with 1000 people who have the power to invest at least 3 million dollars are as follows:
The younger generation prefers cryptocurrencies and other alternatives.
Nearly three quarters of investors between the ages of 21 and 42 do not think that they can survive in the market with investments such as stocks and bonds.
47 percent of young investors have some kind of digital asset.
Looking at the entire portfolio, it is seen that 15% prefer crypto money.
Half of the young population turns to social media for advice and receives investment advice from experts they communicate with online rather than their immediate surroundings.
One-third of respondents think crypto is a smart and long-term profitable investment, with 64 percent thinking that crypto will become mainstream between 2025 and 2027.
Young people are four times more likely than older people to invest in a valuable piece of art.
Domestic stocks for seniors are among the top picks, followed by real estate, emerging market funds, international equities and direct investment, and finally private equity.