More Than Half of Young Investors Regret Their Recent Investments
March 30, 2022
Many Millennial and Gen Z investors wish they had done things differently over the last year, far more than Gen X and Baby Boomer investors.
Half of Millennials and 57% of Gen Z investors regret how they invested during the last 12 months, according to a recent survey from Magnify Money. That compares with 39% of Gen Xers and 26% of Baby Boomers who feel the same way.
The good news is that the most common regret among young investors was not investing more money, with 23% of millennials and 15% of Gen Zers saying they wish had put more money into the market. Young investors, Millennials in particular, were more likely to also say they regretted making a certain investment or selling at the wrong time.
The survey also found that young investors’ investment priorities are different than older ones, which may explain why they have more regrets. While the common investment goal across all ages is securing a comfortable retirement, Gen Z and Millennials were far more likely to say they wanted to get rich quickly.
This desire to hit it big is pushing investors into more speculative investments, which they are more likely to regret. The third most common regret amongst Gen Z investors was putting too much money into cryptocurrencies.