More Gen Y investors than ever before: Commonwealth Bank
Gone are the days when investing in the share market was only popular amongst those in their 40s and over, as new research by the Commonwealth Bank shows a significant increase in Gen Y retail investors.
Today, 28% of 25-34 year olds hold shares directly thanks largely to the growth in mobile devices, which make monitoring markets and transferring funds easier than ever. By comparison in 1995 only around 1 in 5 new investors that used the CommBank platform were aged under 35.
CommSec managing director, Paul Rayson explained that the emergence of online broking has made the sharemarket more “accessible” and “affordable” to younger investors.
“This shift in age demographic is a striking feature of a change in consumer behaviour looking back over the past 20 years. It demonstrates how younger people have embraced technology and become more self-directed in their approach to financial decision-making,” Rayson said.
“In CommSec, we have seen trading via mobile devices experience rapid growth over the past 12-18 months. Around 25 per cent of logins and 13 per cent of daily trades are now performed on mobile devices.”
While there has been an increase in young people taking up shares, some things haven’t changed as investors as a whole are remaining cautious by holding diversified portfolios across various sectors.
Want to enter the investment game? Head on over to our investment hub where you can compare everything from margin loans to term deposits.