According to a new survey, teens still prefer to invest in the stock market, but the cryptocurrency sector has grown in popularity over other choices such as real estate.
Researchers attempted to elicit teen perspectives of the cryptocurrency business and the stock market in North America. In the period of high-octane GameStop, they also encompassed various forms of investments.
According to the findings of the study, the bitcoin business has surpassed other asset types such as real estate. For example, one in every four teenagers would rather invest in bitcoin than in real estate if given the finances.
About 43 percent of teenagers believe it is best to invest in the stock market, while up to 37 percent believe it is best not to invest at all. RSM US and Junior Achievement performed the poll in mid-July of this year. They did it on a small group of approximately 1,000 teenagers aged 13 to 17.
39 percent of those who followed the GameStop saga agreed that stock market investment pays better. However, 20% of respondents claimed that trading equities is normally too dangerous. Long-term stock investment, according to 40%, is preferable.
The poll leaders stated that they intend to restore the teens’ faith in stock market investment as the best option. Furthermore, they will transform the adolescents’ negative view of hedge funders after witnessing the fate of GameStop’s retail investors rather than hedge funders.
In his remarks, Jack Kosakowski, CEO and President of Junior Achievement USA, expressed his sentiments. According to the poll results, the current meme stock scandal may be influencing the youngsters’ attitudes.
He also mentioned that it could be influencing their sense of what it means to invest in the stock market. Jack emphasised that it is critical for them to assist future generations in demystifying stock market investment.
Stock market investment has played a critical part in assisting many Americans in achieving a secure retirement. RSM and Junior Achievement have attempted to change teens’ opinions of the stock market by financing teaching programmes on the subject. The workshops feature a curriculum designed to clarify basic investment principles as well as simulated stock market transactions.
The belief of 51 percent of the teens is the group’s greatest difficulty, according to the poll results. They have come to the conclusion that the stock market is beneficial to ordinary people.
According to previous reports, many countries of the world are becoming more reliant on speculative investments. It has gained popularity among Millennials who are struggling to make ends meet due to stagnant salaries. Millennials also face employment insecurity and skyrocketing real estate prices.