Young investors dash for cash in H2 2023: eToro

Posted by Anton Murray Consulting on 15 Feb, 2024


New data from the trading and investment platform has found young Australian investors to be twice as likely as their older counterparts to have upped their allocations to the asset class in the last six months. On a quest for strong returns driven by a high interest rate environment, young investors have reportedly made a beeline to cash allocations. eToro’s latest Retail Investor Beat (RIB), which surveyed 1,000 retail investors in Australia, observed that over half (54 per cent) aged 18–34 turned to cash in the last six months, compared to 28 per cent for over 55.

It bucks the trend for older investors favouring liquidity as they head closer to retirement, eToro noted, with young investors twice as likely to have increased their allocation to cash assets such as savings accounts. When asked for the motivation behind this decision, “strong returns are guaranteed because of high-interest rates” was the most cited reason across both the younger age group (29 per cent) and over-55s (30 per cent), followed by “ease of access” (24 per cent and 18 per cent, respectively). Additionally, some 16 per cent of young investors, compared to 3 per cent of over 55s, said they increased their cash allocations as it was easier than investing and required less monitoring.

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