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Nearly Half of Young Investors Invested Their Stimulus Money
August 23, 2021
Roughly one-third of investors who received government stimulus money during the pandemic invested some of that money, according to a new poll from CNBC.
Young investors were even more likely to put their stimulus money into the market. Nearly half, 49%, of the respondents between the ages of 18 and 34 purchased investment assets with their stimulus money.
The most common asset purchased was stock, at 15%, followed closely by cryptocurrency at 11%. Cryptocurrency was more likely to be purchased than traditional investment vehicles like mutual funds (9%) and ETFs (8%).
Analysts say that technology is responsible for driving young investors into the marketplace, whether through financial chatter on social media or new platforms like Robinhood.
It is not just young investors taking advantage of these technologies, but people of all ages seem to be jumping into the investment world. CNBC’s survey was based on responses of 5,523 American adults, with 45% considering themselves investors. Of these, more than a quarter said they had started investing in the last 18 months.
