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Image source: Getty Images.
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Stock type | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
U.S. stocks | 42% | 54% | 56% | 56% | 51% |
Growth stocks | 45% | 48% | 45% | 43% | 46% |
Small- or mid-cap stocks | 31% | 39% | 45% | 43% | 39% |
Dividend-paying stocks | 28% | 35% | 43% | 47% | 36% |
Value stocks | 39% | 39% | 29% | 16% | 34% |
Large-cap stocks | 26% | 32% | 38% | 38% | 33% |
Real estate stocks (REITs) | 23% | 23% | 15% | 9% | 19% |
International stocks | 16% | 18% | 21% | 18% | 18% |
Speculative stocks (e.g., penny stocks, meme stocks) | 13% | 14% | 9% | 4% | 11% |
ESG or socially responsible stocks | 15% | 13% | 6% | 4% | 11% |
Cyclical stocks | 10% | 9% | 6% | 2% | 8% |
Recent IPO stocks | 6% | 3% | 3% | 1% | 4% |
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Sector/industry | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Technology | 50% | 58% | 59% | 58% | 56% |
Financials | 36% | 38% | 34% | 34% | 36% |
Healthcare and biotech | 29% | 36% | 40% | 42% | 36% |
Energy and utilities | 30% | 34% | 39% | 50% | 36% |
Real estate | 29% | 26% | 21% | 15% | 24% |
Consumer (discretionary and staples) | 16% | 22% | 26% | 23% | 21% |
Industrials and materials | 20% | 20% | 23% | 24% | 21% |
Cryptocurrency-related stocks | 23% | 28% | 16% | 8% | 21% |
AI stocks | 22% | 21% | 15% | 12% | 18% |
Communications and media | 14% | 15% | 19% | 20% | 16% |
Marijuana industry | 9% | 15% | 9% | 6% | 11% |
Alcohol stocks | 11% | 9% | 7% | 5% | 8% |
Casino and sports betting stocks | 12% | 9% | 5% | 5% | 8% |
Tobacco stocks | 9% | 7% | 7% | 4% | 7% |
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Investment | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Stocks | 4.2 | 3.9 | 3.9 | 3.9 | 4.0 |
Cryptocurrency | 4.2 | 4.4 | 4.2 | 4.0 | 4.3 |
ETFs | 4.5 | 4.4 | 4.4 | 4.5 | 4.4 |
Mutual funds | 4.6 | 4.5 | 4.4 | 4.5 | 4.5 |
Bonds | 4.8 | 4.4 | 4.7 | 4.9 | 4.6 |
Options | 4.4 | 4.7 | 4.6 | 4.4 | 4.6 |
Index funds | 4.6 | 4.8 | 4.6 | 4.7 | 4.7 |
Real estate | 4.6 | 4.9 | 5.2 | 5.1 | 5.0 |
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Factor | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Potential for long-term gains | 2.5 | 2.8 | 2.5 | 2.4 | 2.8 |
Historical performance | 3.7 | 3.9 | 3.7 | 3.6 | 3.8 |
Dividends | 4.0 | 3.7 | 4.0 | 4.1 | 3.9 |
Knowledge of the company or fund | 3.8 | 4.0 | 3.8 | 3.5 | 3.9 |
ESG factors | 4.2 | 4.1 | 4.2 | 4.0 | 4.1 |
Knowledge of the industry | 4.5 | 4.6 | 4.7 | 4.6 | 4.6 |
Potential for short-term gains | 5.3 | 4.8 | 5.3 | 5.9 | 4.9 |
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Factor | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Trust in management | 4.4 | 4.2 | 3.9 | 3.2 | 4.0 |
Competitive advantage, understanding the company and industry | 4.5 | 4.3 | 4.0 | 3.6 | 4.2 |
Dividends | 4.9 | 4.7 | 4.1 | 3.9 | 4.5 |
Market cap and company finances | 5.0 | 4.8 | 4.4 | 3.9 | 4.6 |
Recommendations from paid stock advisory services | 5.5 | 5.4 | 5.0 | 4.5 | 5.2 |
Stock ideas from free investing websites or blogs | 6.3 | 6.0 | 5.8 | 5.8 | 6.0 |
Recommendations from AI tools | 5.6 | 6.0 | 6.4 | 6.7 | 6.1 |
Discussions on Reddit | 5.9 | 6.4 | 6.9 | 7.6 | 6.6 |
Reviews from YouTube investing influencers | 6.2 | 6.4 | 7.0 | 7.5 | 6.6 |
Advice from TikTok creators | 6.7 | 6.9 | 7.6 | 8.4 | 7.2 |
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Percent of portfolio in dividend stocks | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
0% | 3% | 3% | 4% | 6% | 4% |
1% to 25% | 34% | 40% | 37% | 42% | 37% |
26% to 50% | 43% | 36% | 31% | 25% | 35% |
51% to 75% | 10% | 11% | 11% | 9% | 11% |
Over 75% | 4% | 4% | 6% | 7% | 5% |
Not sure | 5% | 6% | 12% | 10% | 8% |
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Reason | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Long-term compounding | 56% | 48% | 44% | 27% | 47% |
Reliable income | 43% | 50% | 46% | 51% | 47% |
Reinvesting dividends for growth | 18% | 27% | 41% | 49% | 31% |
Defensive/less volatile | 23% | 20% | 14% | 11% | 18% |
Hedge against inflation | 19% | 16% | 12% | 10% | 15% |
Tax advantages | 11% | 7% | 8% | 7% | 9% |
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Age | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Reinvest them automatically | 23% | 38% | 53% | 70% | 41% |
Save them for specific financial goals | 19% | 17% | 14% | 8% | 16% |
Take them as cash income for everyday expenses | 26% | 17% | 8% | 5% | 16% |
Take them as cash for fun money | 18% | 15% | 9% | 4% | 13% |
Reallocate manually into other investments | 11% | 9% | 10% | 10% | 10% |
Not sure/it varies | 3% | 4% | 5% | 3% | 4% |
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Age | Yes |
|---|---|
Gen Z | 64% |
Millennials | 53% |
Gen X | 28% |
Baby boomers | 15% |
All | 45% |
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Age | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
YouTube | 67% | 56% | 29% | 6% | 47% |
Friends/family | 40% | 42% | 42% | 42% | 42% |
Free financial/investing website | 26% | 37% | 40% | 35% | 34% |
Financial advisor | 25% | 28% | 40% | 54% | 33% |
TikTok | 48% | 26% | 8% | 1% | 24% |
Reddit | 27% | 28% | 11% | 3% | 20% |
Podcasts | 22% | 24% | 17% | 8% | 20% |
Paid stock recommendation service | 19% | 14% | 13% | 10% | 15% |
LinkedIn | 17% | 15% | 12% | 2% | 14% |
Blogs | 13% | 16% | 9% | 5% | 12% |
Other | 1% | 2% | 5% | 8% | 3% |
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Number of investments | Gen Z | Millennials | Gen X | Baby boomers | Grand Total |
|---|---|---|---|---|---|
1 to 5 | 39% | 33% | 27% | 28% | 32% |
6 to 10 | 40% | 40% | 40% | 36% | 39% |
11 to 20 | 16% | 18% | 20% | 21% | 19% |
More than 20 | 5% | 9% | 13% | 15% | 10% |
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Investment goal | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Retirement planning | 20% | 30% | 58% | 72% | 39% |
Passive income | 43% | 40% | 22% | 14% | 33% |
Buying a home | 16% | 9% | 2% | 2% | 8% |
Capital appreciation | 7% | 10% | 8% | 6% | 8% |
Paying off debt | 5% | 7% | 6% | 5% | 6% |
Starting a business | 9% | 4% | 3% | 0% | 4% |
Other | 0% | 1% | 1% | 0% | 1% |
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Age | Gen Z | Millennials | Gen X | Baby boomers | All |
|---|---|---|---|---|---|
Daily | 16% | 14% | 6% | 2% | 11% |
Weekly | 34% | 29% | 17% | 9% | 25% |
Multiple each month | 24% | 27% | 24% | 14% | 24% |
Once a month | 10% | 9% | 12% | 9% | 10% |
Less than once a month | 16% | 20% | 42% | 66% | 29% |
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About the Author
Jack Caporal is the Research Director for The Motley Fool and Motley Fool Money. Jack leads efforts to identify and analyze trends shaping investing and personal financial decisions across the United States. His research has appeared in thousands of media outlets including Harvard Business Review, The New York Times, Bloomberg, and CNBC, and has been cited in congressional testimony. He previously covered business and economic trends as a reporter and policy analyst in Washington, D.C. He serves as Chair of the Trade Policy Committee at the World Trade Center in Denver, Colorado. He holds a B.A. degree in International Relations with a concentration in International Economics from Michigan State University.
The Motley Fool has a disclosure policy.