Most teens in the US obtain financial information on social media platforms, according to a survey. In general, they were not very enthusiastic about investing.
A recent study stated that a considerable percentage of teenagers in America don’t support investing, regardless of whether it is Bitcoin or traditional stocks.
Researchers at Junior Achievement and RSM led a survey in mid-June that sought to study the perceptions of young citizens around the stock market, cryptocurrencies, and other investments. In particular, they focused on a group of teenagers and their opinions about meme actions in the wake of the events related to GameStop.
With a staggering 37% admitting that they would not move forward to invest at all, the study suggests that overall; a group of Gen Z does not seem to have many financial aspirations. According to a statement, the results arrived from a survey in which more than 1,000 young citizens played a part.
Twenty-five Percent Would Hypothetically Purchase Bitcoin
The study, which sought to understand the behavior regarding investment among US teenagers, found that 94% of them reveal they know only a bit or even nothing at all about the stock market. Only half (51%) agreed that the stock market was a positive feature that could help ordinary people financially.
Forty-three% percent of the young citizens said they would invest in the stock market in the unlikely event they were given money to invest. The second-largest response belonged to cryptocurrencies. 25% of teens made clear that they would purchase digital currencies if they could receive the capital.
The number of young people who would invest in crypto slightly outnumbered those who would choose real estate. The percentage of kids who would not move forward to set an investment still outnumbered those who would tend to buy crypto and those who would invest in real estate.
Among the most notable findings, social media appeared to be the primary source of financial information for teens, with 43% of respondents choosing this option. They also turn to their parents (35%), websites (30%), and school (29%) for information on the stock market, according to the report.
Another group of participants (39%), who had followed the GameStop situation this year, agreed that stocks are the best way to make money faster than traditional mechanisms. Half of them (20%) stated that the stock market is way too risky, and a higher percentage (40%) describe buying stocks as long-term investments.
More and more Respondents Would take the Path of Cryptocurrencies
The researchers noted that recent survey results show that events with meme stocks like GameStop have caused teens to have mixed feelings about the stock market.
The study seeks to change the general impression of the stock market by promoting educational programs that might include simulations of stock market experiences and a curriculum to clarify the basic principles of investing.
Other surveys have also agreed that people tend to search for financial information on social media. An increasing percentage of these people are taking the path of speculative investments to generate short-term profits.
By: Jenson Nuñez