According to a PolicyGenius survey on April 9, more than one-fifth of young people in the US own crypto, as individuals in the younger generations invest 4x more often in crypto than older generations.Gen Z, which includes ages 18 to 26, showed the highest preference for crypto over traditional investments — 20% of Gen Z respondents own crypto, while 18% own stocks, 13% own real estate, and 11% own bonds.Millennials aged 27 to 42 invest in crypto slightly more often than Gen Z respondents, with 22% owning crypto.However, millennials’ crypto ownership did not exceed traditional investment rates — with 27% invested in stocks and 24% in real estate. Bonds are less popular among the age group, with only 16% invest in bonds.The survey also found that 9% of Gen Z respondents own NFTs versus 8% of millennials.The generational divideAlthough each generation’s investment rates demonstrate some interest in crypto in an absolute sense, the numbers are highly significant compared to older generations.PolicyGenius found that the two oldest generations reported significantly lower crypto ownership overall. In the Gen X category, 10% of respondents owned crypto, while 4% owned NFTs.Meanwhile, only 5% of boomers own crypto, and only 1% own NFTs.The generational divide is also relevant regarding real estate investment. When Gen Z and millennial investment rates are considered together, 21% of respondents own crypto, while 20% own real estate. But despite the remarkably close rate within the age group, older investors have significantly higher real estate investment rates, with 45% of boomers investing in the category.Housing shortages and high housing costs may prevent younger individuals from investing in real estate, possibly increasing the appeal of alternative investments like crypto, according to the report.Latest Alpha Market Report

A new survey from Policygenius confirms that when it comes to wealth accumulation and making financial decisions, Gen Z and Gen Y are taking a very different path from the generations that came before them.Drawing from a survey of around 4,000 Americans, the 2024 Policygenius Financial Planning Survey reveals that millennials, defined as those ages 27 to 42, and Generation Z, those 18 to 26, are as likely to own cryptocurrency (21 percent) as they are to own real estate (20 percent). This comes against a backdrop in which home affordability has plummeted to its lowest level since the Great Recession. Factors such as elevated interest rates, stagnant wages, and a thin housing supply have rendered homeownership a distant dream for many. The Policygenius study found that across generations, baby boomers led the charge in amassing housing wealth, with 45 percent of those surveyed citing real estate as a component of their asset portfolio

New Policygenius survey shows younger Americans are also more likely to try viral "hacks" and turn to social media for financial adviceNEW YORK, April 9, 2024 /PRNewswire/ -- When it comes to wealth, younger Americans — specifically millennials and Gen Z — have some catching up to do, especially considering adult members of these generations own just 74 cents for every $1 of wealth that baby boomers owned at the same age.New data released today shows that together Gen Z (ages 18-26) and millennials (ages 27-42) are almost equally likely to own cryptocurrency (21%) as they are to own real estate (20%). They are also more likely to try financial "hacks," often popularized on social media. In fact, 62% of the members of these younger generations have tried at least one of the six financial hacks we asked about in the survey, with the "no spend challenge" the most popular with Gen Z (21%) and almost two in 10 millennials (19%) having tried extreme couponing. Only 36% of Gen X (ages 43-58) and baby boomers (ages 59-77) have tried any of the financial hacks — maximizing credit card rewards was the most popular hack for these generations (21% and 19% respectively).New survey shows younger Americans — specifically millennials and Gen Z — have some financial catching up to do. Post thisThe 2024 Policygenius Financial Planning Survey found that the feelings different generations have about their finances vary greatly as well, with around three-quarters of baby boomers (78%) saying they feel at least somewhat proud of their finances, compared to 70% of millennials and 64% of Gen Z.The survey also found that:Gen Zers are more likely to own cryptocurrency (20%) than they are to own stocks (18%).than they are to own stocks (18%). 14% of Gen Z have tried " infinite banking " — a term for borrowing against the cash value of a whole life insurance policy." — a term for borrowing against the cash value of a whole life insurance policy