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While the pandemic caused significant changes in the economy - from the stock market crash and subsequent rebound to Poland's real estate boom and labor shortage - it also affected areas such as personal saving and investment trends.

Millennials (born 1981-1996) changed their investment habits the most with the outbreak of the "Covid-19" virus pandemic. According to a global study by Natixis / Statista, 23% of millennials invested more during a pandemic, compared to 21% of Gen X and 15% of Baby Boomers.

For 32% of millennials, this meant increased trading activity directly or via online platforms, which was true for 24% of Gen X and 16% of Baby Boomers. Meanwhile, 24% of millennials increased their investment activity using an advisor, compared to 18% of Gen X and only 13% of Boomers. In a TD Ameritrade / Harris survey of Americans, 17% of millennials said they had opened a new investment account to move their financial plans in the first months of the pandemic, compared to 12% of Gen X and just 2% of Gen Boomers.

The rise in the number of millennial investors may have almost as much to do with the maturing of this generation as it is with a pandemic.

Even so, the question arises:

Where does millennial money go?

Like any other group, millennials invest their money in a variety of places, from real estate to mutual funds. It's impossible to pinpoint how many millennials have made a particular type of investment, and many surveys researching this issue can skew the real data because of a biased sample (e.g., online surveys are more likely to attract internet savvy people who may be more inclined to make certain investments) . However, there are certainly trends that can be identified by drawing conclusions from research into saving and investing habits. Belong to them:



Sustainable Investments

While other generations are catching up now, millennials are leaders in socially conscious investing. About a third of millennials often or exclusively invest with 'environmental, social and governance' (ESG) factors, compared with 16% of Generation X, 2% of Baby Boomers and 19% of the younger Generation Z, according to a recent Harris poll for CNBC. Often this means investing in portfolios that specifically rule out "bad" investments in oil and gas, tobacco and weapons.

Millennials are also more interested in 'impact investing', with 64% interest, ahead of 50% of Gen X and 34% of Baby Boomers. They have also long expressed a desire for their pensions to be earmarked for ethical investment.

meme stocks

Meme shares can be any shares that are of great interest on the web and attract investors. A common source is Reddit and forums like WallStreetBets, which triggered an unprecedented short squeeze on GameStop. According to a recent Fidelity survey, more than a third of investing millennials - 38% - use social media to get market guidance, although less than among the younger Generation Z, where 41% of investors use social media.

Growth and dividend shares

While millennial investors may be more interested in meme stocks and ethical investments than other generations, they do not account for the majority of their investments. In a recent study by Motley Fool, growth stocks were the most popular millennial and Gen Z investments (58%), with meme and ESG stocks only holding 30%. Millennials considered the historical stability of stocks to be the most important when making investment decisions, while Gen Z, addicted to TikTok, paid a little more attention to information from social media.


It is perhaps not surprising that a rapidly changing, sometimes incomprehensible world cryptocurrency it is more attractive to younger demographics, such as the controversial Dogecoin that started out as a joke.

A recent study by Piplsay found that 49% of millennials own cryptocurrencies, compared to 38% of Gen X and 13% of Gen Z. Another survey, by Motley Fool, gives a different number, with 39% of millennials claiming to own cryptocurrencies. However, they are ahead of Generation Z, where 47% said they own cryptocurrencies. Meanwhile, a survey by the online magazine Sophisticated Investor found that 12% of millennials consider cryptocurrency the safest investment for 2021, compared to 9% overall.


Interest in the inconvertible tokens (NFT) - digital assets based on blockchainthat investors, art collectors and others can acquire exclusively - has exploded over the past year. A recent study by Morning Consult found that millennials (especially men) were most likely to purchase NFTs, with 23% of millennials investing in NFTs, compared to 8% of Gen X and 4% of Gen Z.

What will the millennials invest in next?

Precious metals

While millennials can drive investments in cryptocurrency assets, a 2021 study by The Royal Mint found that 53% of Gen Z and Gen Z investors did not earn as much as they hoped or even lost. money on them. The study found that many of these young people - 68% in fact - consistently consider lower-risk assets such as gold and other precious metals. In addition, the Mint also saw a 430% increase in gold investing millennials through its DigiGold platform in 2020.


According to Morgan Stanley analysts, only 6,5% of millennial assets are invested in stocks - but this is roughly the 6% that Boomers owned at 40 (the current age of the oldest millennials). "In the years that followed, the Baby Boomers' allocation of equities increased to more than 25%, which means that there may be more inflows from the stock market," says Daniel Skelly, director of market research and strategy at Morgan Stanley Wealth Management. DailyFX revealed that in the US the most popular millennial stocks are NIO, Apple, Tesla, Plug Power, Aphria - proving that ESG fears are not always true - Marathon Oil.

Risky investments

In the second quarter of 2021, 70% of Millennial and Gen Z investors reported an increase in their risk tolerance, up from 51% last year. According to a recent ETRADE survey, 72% of Millennial and Gen Z investors are confident in their portfolio decisions, compared to 56% before the pandemic.

Jonathan Merry, CEO of's currency comparison platform, comments: “As the global economy and stock markets continue to stabilize, millennials are likely to show even more confidence in their portfolios and their risk appetite will grow. This can mean investing in assets such as cryptocurrencies and NFTs, but they can also open up to wider investment opportunities with their growing knowledge base. "

Managed funds

A recent Barclays report highlights that in the UK over 80% of household wealth is owned by people aged 45+. Over the next 30 years, this property is expected to be passed on from generation to generation as inheritance or as gifts as part of The Great Wealth Transfer (the assets of the Baby Boomers born in 1940-60) to their heirs , mostly millennials).

Jonathan Merry of says: “While many inheritance buyers are likely to allocate them to assets such as real estate from which most of the inheritance likely came from, others may be willing to invest the inheritance but feel they lack knowledge. This could mean that they will turn to bank's diversified long-term funds or to managed funds where less decision and research is required. "

Brokerage applications

Stock trading apps like Robinhood, E * Trade, Stash, and SoFi Invest flourished during the pandemic, in part because people stuck at home were looking for exciting challenges. With a focus on utility and low fees, they also attracted many newbie investors; Half of the 3 million new Robinhood users in 2020 were first-time investors, and the average age of the platform's users is around 30 years. Numerous reports show that millennials want to manage their financial lives using mobile phones, therefore the trend of app-based investing among this demographic is unlikely to slow down, both for newbie options and more established offerings. financial institutions.

Cem Eyi, co-founder of Beanstalk, an investment app that offers ISA stocks and shares, says two-thirds of its users are millennials who exhibit different saving and investing patterns.

“Younger users are 35% more likely to use our Daily Payment Rounding feature which helps them save little and often, while older users prefer to set a regular premium in the form of a direct debit. Millennials are also sending links more often to invite grandparents and other family members to contribute, ”explains Eyi.

"Since millennials have children, they expect convenience and flexibility when it comes to products that help them save for the future."

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