More Gen Z & Millennials are getting serious about investing, and they’re sharing their tips on TikTok. YPulse found that buying stocks/investing is one of 13-39-year-olds top financial goals for 2021. Financial groups have confirmed the new wave of young investors, with people under 41-years-old accounting for more than half of newly opened accounts at Charles Schwab and people under 35-years-old accounting for more than a third of newly opened accounts at Fidelity in 2020. All signs the generations are “getting quite serious” about their finances and investing. Young people are also gaining a lot of financial advice from TikTok, where users have gone viral for sharing tips from how to day-trade to how to start using a Roth I.R.A. And it’s impacting behavior: Betterment reports that the number of accounts opened in April 2020 doubled from the same time the year before after a “finluencer” suggested them in a video. (NYT)
