Over a third of young adults believe trading stocks and exchange-traded funds (ETFs) is a more effective route to wealth than getting on the property ladder, Revolut has found.
Internal data and a pan-European survey commissioned by the fintech show that peopled aged 18-24 consider stocks and ETFs to be the asset classes most important and effective for building long-term wealth.
Some 37% of Gen Z respondents said as much, compared to 30% who cited property as the best way to build wealth, making the group the least trusting of real estate as an investment opportunity.
Among the 45-54-year-olds in Gen X, housing was dominant with a third citing it as their priority tool for building long-term wealth.
The trends hold true in Ireland where 37% of 18-24-year-olds cited stocks and ETFs as their top choice and 29% said property while less than a quarter of GenX (23%) would opt for stocks ahead of real estate.
“There is a clear shift in how younger generations are approaching wealth-building,” commented Rolandas Juteika, head of wealth and trading (EEA) at Revolut.
"They simply cannot rely on buying a home to start building towards their financial future; so they are starting earlier, investing smaller amounts, and using tools that were once the preserve of professional investors.
"This trend is a direct result of both increased financial literacy and the accessibility of new platforms.”
(Pic: Getty Images)
