About half of generation Z and millennials in the U.S. consider investing in the crypto market as an investment for a comfortable old age.
A survey conducted by Schwab analysts showed that younger generations in the U.S. aren’t only interested in crypto as retirement savings, but are also actively investing in digital assets.
The survey covered more than 1,000 Americans, including 156 members of generation Z (21 to 25 years old) and 358 millennials (26 to 41 years old). The study showed that 32% of respondents consider cryptocurrency investments retirement savings. Of those, 46% are generation Z (zoomers) and 45% are millennials.
Notably, younger generations are already actively investing in the crypto market. According to the study, 43% of zoomers and 47% of millennials already own crypto. Around 37% of zoomers and 54% of millennials use 401(k) savings accounts to do so.
The younger generation chooses to invest in these ways:
- using a mobile trading app (22% of zoomers and 15% of millennials);
- buying crypto through trading platforms (11% of zoomers and 10% of millennials).
Zoomers are most likely to turn to family and friends for financial advice (40%), and more often than other generations use social networks for this purpose (24%). Millennials, on the other hand, more often seek help from retirement plans (48%) and don’t avoid online advice (20%).
Recall that a previous similar report found that 39% of U.S. millennials own crypto and consider it as retirement savings. It’s also notable that American public pension funds maintain a high interest in cryptocurrency savings, despite bearish market trends.
