Gen Z, Millennials More Worried About Their Portfolios Than Their Health During COVID-19 Crisis: Survey
May 13, 2020 by Michael S. Fischer
Fifty-three percent of Gen Z and millennial investors in a new quarterly survey from E-Trade Financial said their top concern during the coronavirus crisis was their investment portfolios, followed by 44% who cited their health and 43% who worried about their ability to afford day-to-day living expenses.
“To watch a nest egg’s value reduce drastically in almost the blink of an eye is enough to shake up anyone,” Mike Loewengart, E-Trade’s managing director of investment strategy, said in a statement.
“Millennial and Gen Z investors have primarily experienced the 10-year bull run in their investing lifetime so it’s understandable to see portfolio concerns bubble up, but it’s important to remember that time is on their side.”
E-Trade’s latest quarterly survey was conducted during the first week in April among an online U.S. sample of 940 self-directed active investors who manage at least $10,000 in an online brokerage account. The millennial/Gen Z dataset comprised 112 investors between the ages of 18 and 30.