TikTok and Reddit have surged in popularity among young investors. The trend of turning to online financial advice suggests that social media is inspiring a more diverse range of young people to get into investing. There’s been a significant increase of 18-34-year-old investors who get financial knowledge from Reddit, rising from 17% to 26% over the past three years, and from 12% to 20% for TikTok. And while the gap is narrowing, men are still more likely to develop their own investment ideas, with 19% reporting that they come up with their own strategies, compared to 7% of female investors. (City A.M.)
📊 YPulse data: 53% of 13-39-year-olds trust social media platforms / influencers to give good financial advice
