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...
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
... hat they invest in."While social media and investment apps are making it easier for Gen Z to access financial information, there are still barriers preventing many Gen Zs from getting started with investing. This includes a lack of financial education, which continues to be a cause for concern. Governments, regulators, and investment professionals have a collective role to play in helping Gen Z acquire the necessary knowledge to make well-informed, responsible investment decisions." Gerri Walsh, President, FINRA Foundation, said: "The Gen Z population is diverse and digitally savvy....
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...
2022-04-26 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 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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2021-10-21 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%...
2021-04-20 12:00:06 | investing payments
... knowledgeable. A strong majority of U.S. adults (77%) indicate they are open to learning more about digital assets, whether they already own cryptocurrency or not. The number of crypto investors is set to nearly double this year, with 13% of U.S. adults planning to purchase crypto in the next 12 months. The "average" crypto investor will be changing soon due to these new entrants — the current profile is a 38-year-old male making approximately $111,000 a year. The next wave of crypto buyers are older and have slightly smaller yearly incomes, with an average age of 44 and aver...
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....
... arges no transaction fee to checkout with crypto – a cryptocurrency conversion spread will be built into the conversion from crypto to USD. Source: PayPal ...
2021-03-09 08:11:04 | technology investing
... vestor, Personal Capital has also introduced the ability to track cryptocurrency on personal dashboards. "Bitcoin recently hit a $1 trillion market cap and we realize tracking cryptocurrency is becoming increasingly important," said Vince Maniago Vice President of Product Management. "By adding these new tracking features, 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 ...
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