Survey: About half of young Americans are more interested in new investments such as cryptocurrencies, and nearly two-thirds believe the stock market is a more realistic path to wealth than buying a home

PANews reported on September 24 that Bank of America’s latest survey of 5,000 American adults shows that Americans, led by Generation Z and Millennials, are rewriting the traditional wealth accumulation path. 62% of Gen Z and 61% of Millennials believe that the stock market is a more realistic path to wealth accumulation than buying a home; 48% of Gen Z and 47% of Millennials believe that new investments such as cryptocurrencies are more attractive than traditional investments, while 76% to 79% still believe that traditional investments are the best way to achieve long-term goals. But it’s not a blanket turn toward optimism among young investors, with 30% of Gen Z and 28% of Millennials reporting a decline in trust in cryptocurrencies over the past year, while 33% and 29%, respectively, said trust in stocks increased during the same period.