June 13, 2024

Black Millennials and Gen-Z Shake Up Investing

By Bria Overs | Word In Black

Credit: Alexander Suhorucov / Pexels
Credit: Alexander Suhorucov / Pexels

(WIB) – The average new investor looks different from years past. They are younger, more eager, ready to learn — and Black.

A new report from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation’s National Financial Capability Study found a “new generation of younger investors entering the market with substantially different investment behaviors and attitudes than older generations.” The study dives into the specific experiences of investors of color in America.

Black investors with non-retirement investment accounts increased by nine percentage points, or 45%, from 2015 to 2021. And more than half of them are under 35, meaning Gen-Z and Millennials are driving the change. Slightly over a quarter are between 35 and 54, and under a quarter are 55 and older.

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