The majority of people have already come to terms with the fact that a worldwide recession is inevitable. While the rich do have the opportunity to diversify their portfolios in the case of an economic collapse, most people do not have a way out.
According to a recent eToro survey however, 40% of millennials fear recession and are looking towards crypto. It’s completely normal that younger people are more inclined to support new technologies. The worrying trend is however, that over 70% of the millennials who were surveyed believe that a recession is not only coming, it’s inevitable.
There are also some slight differences between the preferred safe havens when it comes to millennials and Gez Z’s. 40% of millennials would look towards cryptocurrencies, while over 50% of Gen Z investors would prefer to invest in real estate.
40% of millenials is probably not a correct guess as most people tend to agree that economic crashes are inevitable
The fear of recession extends beyond age groups and demographics as the eToro survey found out that each and every generation of Americans was prepared and raised with the possibility of an eventual financial collapse.
Those who were most worried about a recession, stated that the perfect solution would be to find opportunities with high liquidity. The majority of these investors mentioned they were extremely open to the idea of owning fractions of assets like art, historical landmark buildings, private startups or alternative forms of investment.
One the biggest pain points which many investors shared was the hard transferability of assets. Many investors mentioned that it’s extremely difficult to transfer financial assets to another person. Over 50% of the millennial investors stated that they would trade far more often it the process was simplified.
For the survey, eToro commissioned Provoke Insights, an independent market research and strategy company. The survey was held online and targeted people aged between 20 and 65 who also had a real intention to invest or trade with stocks, cryptocurrencies or ETFs within the next few months.
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