2024-04-09 09:25:00 | cryptocurrency demographics real estate
... ge" or extreme couponing, compared to just 36% of Gen X (ages 43-58) and baby boomers (ages 59-77).Interestingly, the survey also found that Gen Zers are more inclined towards cryptocurrency (20%) than traditional investments like stocks (18%), and 14% have experimented with "infinite banking," a strategy involving borrowing against the cash value of a whole life insurance policy. This inclination towards newer, riskier investment forms and financial strategies is more pronounced among younger generations, with 8% of them turning to social media first for financial advice, compared to a mere 2...
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2024-02-15 | consumers economy
... home, establishing a non-retirement investment account and acquiring cryptocurrency.Checking, savings account balances remain lowAccess to traditional checking and savings accounts is high among the Black Americans in Achieve's survey, but many struggle with having an adequate base to meet their financial goals. For example, 79% of respondents report having a checking account, but 58% said they have less than $500 in those accounts, including 13% who said they don't have any money in their checking account. A similar dynamic exists with savings accounts, where 63% of respondents report having ...
2023-05-24 10:23:10 | investing
... large number of Gen Z investors started investing before they turned 21: More than four in five (82%) U.S. Gen Z investors began investing before they were 21, as did 79% of Canadian and 81% of UK Gen Z investors. In contrast, less than two thirds (63%) of Gen Z investors in China started investing prior to this age. Chinese Gen Z investors, however, have the largest median investment balances among the markets surveyed.The majority of Gen Z investors are focused on travelling, but UK investors want to buy a home: 61% of U.S., 55% of Canadian, and 53% Chinese Gen Z investors say their top fin...
2022-07-27 | consumers economy
... ments such as cryptocurrency - which the survey found investors had at least equal ownership to traditional investments like ETFs and mutual funds. Social media is a major source of financial advice and information for 30% of Americans. 99% of those who reported turning to social media for advice and information said that they have taken the advice. Rob Falzon, Prudential Vice Chair, says that the world is changing at an unprecedented pace and complexity. With it comes shifts in financial circumstances and the challenges Americans face. "Prudential's Pulse research helps us b...
2022-05-23 | consumers
... families' experiences related to banking and credit, income, housing, retirement, student loans, and retirement alongside several new topics, such as the use of emerging financial products including cryptocurrencies and "Buy Now, Pay Later" services. The survey included 11,000 adult respondents....
2022-04-26 12:10:00 | crypto retirement
... orks The new proprietary offering will enable employees who are comfortable with the risks and volatility of cryptocurrency to invest in bitcoin through a Digital Assets Account within the core lineup of their 401(k) plan. The DAA is a custom plan account that holds bitcoin and short-term money market investments to provide the liquidity needed for the account to facilitate daily transactions on behalf of the investor. Bitcoin in the DAA will be held on the Fidelity Digital Assets custody platform to ensure institutional-grade security. Plan sponsors electing to offer the DAA establish empl...
2022-04-25 14:00:00 | demographics financial planning retirement
... of macro-economic trends and investing evenly in stocks and cryptocurrencies. On-Trend Friends – approximately 13-23% of future retirees | 9.4-16.6 million Millennials Driven by purchasing power and a close pulse on all things culturally relevant, On-Trend Friends will prioritize keeping up with the latest consumer trends and spend more time and money on shopping than their peers. Like Practical Achievers, On-Trend Friends value financial security more than the other two personas, as a way to maintain a healthy spending and entertainment budget. Relaxed Minimalists – approxi...
2022-04-25 10:00:00 | financial planning
... rrencies (61%). "In this current market environment, we're seeing a distinct shift to increased digitization, whether that's planning for social media accounts, interest in cryptocurrency, or simply exploring digital wealth planning tools," says Donna Walton, Vice President, Wealth Strategist at TD Wealth. "People want their financial planning to advance alongside their day-to-day use of technology and digital integration." The results also revealed that more than eighty percent (83%) of surveyed estate and financial planners said they use digital tools to support clients' estate plannin...
2022-01-04 09:32:54 | consumers cryptocurrency housing
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2021-12-06 09:22:18 | advice demographics
... proximately 38% of respondents use an employer-sponsored benefit like a 401(k); 24% use individual retirement accounts (IRAs); 30% invest in stocks and 19% report investing in cryptocurrencies. IRAs are less popular among younger generations. Only 22% of Millennials and 19% of Gen Z respondents claim they have investments in an IRA, while 35% of Baby Boomers and 23% of Gen X claim to have one for their investments. Alternatively, nearly 1 in 8 Millennials and Gen Z Americans are turning to micro-investing apps, such as Stash and Acorns to prepare for retirement. For various reasons, nearly ...
2021-10-21 12:00:10 | credit demographics
... options. The majority (53%) use person-to-person payment apps (more than any other generation), half (50%) use PayPal, and one in four (25%) would consider using cryptocurrency. Purchase-based payment flexibility: Payment use among Gen Z is influenced by the purchase at hand. Looking at purchases valued between $30 and $150, credit cards are preferred by more than one in three (36%) Gen Z shoppers, while one in 10 say they would use buy now, pay later for a $500 purchase. End-to-end control: When asked about features they would like to see in their payment solutions, nearly eight in 10 (79%...
2021-05-28 | consumers investing
... g more prominent and accessible to average consumers. As stocks and cryptocurrencies enhance risk, there may be an opening for services that support investment decisions and offer alternatives to stocks for more risk-averse people. As financial-services firms compete to meet surging interest from younger and less financially knowledgeable consumers, they need to balance a unique set of legal, ethical, practical, and reputational factors in serving these new investors. US consumers cut back substantially on discretionary spending at the start of Q1 2021: More than 3 in 5 US consum...
2021-04-20 12:00:06 | investing payments
... ation will help remove barriers to entry." Source: Gemini...
2021-04-20 12:00:05 | payments technology
... ind conditional Bitlicense by the New York State Department of Financial Services (NYDFS), allowing PayPal and Venmo to offer its customers the ability to buy, sell and hold cryptocurrency. Crypto on Venmo is starting to roll out today and will be available for all customers directly in the Venmo app within the next few weeks. Source: PayPal Holdings, Inc....
... of their digital lives. Paradigm, the organizer of the new alliance, was founded in 2018 and is a crypto-focused investment firm based in San Francisco. The firm invests in crypto assets and businesses from the earliest stages of idea formation through maturity. Source: Crypto Council for Innovation...
... nversion spread will be built into the conversion from crypto to USD. Source: PayPal ...
... er than any other age group, a significant development, as ESET researchers recently found a slight increase in cryptomining activity following a decrease after the bitcoin crash in 2018. "As more consumers turn to online and mobile banking for their financial transactions, they appear to be becoming more educated about staying safe online. However, many people still need to make sure they are practicing safe cyber habits that do not make their financial information more vulnerable to bad actors," said Tony Anscombe, chief security evangelist for ESET. "This means, among other things, not u...
2021-03-09 08:11:04 | technology investing
... res, now you can literally see everything on your dashboard. You can track your home value, employee stock options, stock portfolio, other alternative investments and now your cryptocurrencies." Personal Capital reported an increase of 33% in new assets under management for the year of 2020, and now serves over 26,000 wealth management clients. Source: Personal Capital...
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