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Laxman Pai, Opalesque Asia: The next-gen is expected to inherit $73 trillion in the coming years, and they could be poised to make very different decisions with their money than previous generations.
73% of younger people believe that it is not possible to achieve above-average returns solely on traditional stocks and bonds, while only 32% of older people agree, said a study.
The younger set allocates three times more to alternative investments and half as much to stocks, according to a new survey from Bank of America.
As a reflection of that view, only 25% of their portfolios are allocated to stocks. That is in stark contrast to the 55% allocation older investors have to equities.
Meanwhile, ownership of sustainable investments (SI) has doubled since 2018 among all age groups - and for those aged 21 to 42, it's now the norm. Younger people are also more likely to see impact and performance in SI investments.
Among SI owners, three-quarters of the younger group see evidence of strong financial returns and evidence of positive impact, compared to about half of SI owners who are 43 or older.
According to the survey, most younger people want to establish their own philanthropic identity. Half of the philanthropic individuals support the same causes as their parents, but three-quarters say they prefer to establish their own philanthropic identity. There are also generational differences in giving methods.
Younger people are two to three times more...................... To view our full article Click here
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