2020 has brought on surge of interest in the stock market as new investors are looking to participate. (We’ve seen this firsthand at Public.com). With this survey, we wanted to dig into the behaviors and attitudes of today's investors to understand where they are on their investing journeys and how they got there.
The study reveals interesting shifts in the way people experience investing. For example, talking about money used to be considered taboo, but 64% of 18- to 29-year-olds told us they're talking to their friends about investing.
In fact, friends and online communities were the No. 1 place people go to talk about investing, and they told us they turn to these sources 3X more than their own families and 4X more than financial advisors, respectively.
The stock market is a mysterious place for a lot of people—not entirely shocking given that most people aren't taught financial concepts as kids or even young adults. Our data corroborated this, finding that 55% of people are self-taught when it comes to investing.
We hope this study will be a jumping off point for further conversations about what it will take to change investing culture to make it more inclusive and educational for incoming generations of investors.
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