Gen Z, millennials favor these ‘alternative’ investments

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Gen Z, millennials favor these ‘alternative’ investments

Older investors like stocks. Younger investors prefer “alternatives.”

That is the takeaway from a new Study of Wealthy Americans, published in June by Bank of America Private Bank.

The bank surveyed 1,007 Americans with at least $3 million in investable assets. When the survey asked them to rank the investments they considered the “greatest opportunities for growth,” responses varied dramatically by age.

Older Americans, ages 44 and above, chose stocks, stocks and more stocks. Their top-ranked investment was domestic equities. “Emerging market equities” and international stocks ranked third and fourth, behind real estate.

Younger Americans, ages 21 to 43, ranked six alternative investments above stocks. “Alternative,” in this context, means anything other than stocks and bonds, the bread and butter of traditional investing.

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