Over 40% of Gen Z are investing because they're driven by FOMO, survey finds
Gen Z is getting started young with investing and many are driven to do so by FOMO or a fear of missing out, aby the CFA Institute and the Financial Industry Regulatory Authority Investor Education Foundation found.
The results showed that over 40% of Gen Z investors in the US, Canada, and UK cited the fear of missing out as a major influence in their decision to start investing. That climbs to 60% of Gen Z in China who started investing because of FOMO. A quarter of Gen Z in the US even started investing before the age of 18 with just over 20% in the UK and Canada doing the same. Only 7% of Gen Z in China started investing before they were 18 years old.
The tech-obsessed generation is becoming financially educated through social media and the internet, with 48% learning about investing and financial topics through social media, 47% by searching on the internet, and 45% from parents and family.
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