Over one fifth of Gen Z and Millennials are closing investing accounts because of inflation. According to Ally Financial, out of 900 investors surveyed, young consumers made the most investment account closures over the past year. Their reasoning has to do with their fears over rising inflation and stock market volatility. But according to MagnifyMoney, “23% of [M]illennials and 15% of Gen Zers wished they had invested more…and roughly 15% of each group regrets selling an investment.” YPulse’s recent Personal Finance and Services report data shows that half of young consumers currently don’t have any financial investments; but for those who do, only 8% of Gen Z and 24% of Millennials say they keep/save their money in investment accounts. (CNBC)
