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Two-thirds of young investors take less than 24 hours to decide on an investment

^{Published on 2024-12-18 06:01:26 - The Daily Mirror}
 

• Desperate to not miss the boat, 'fear of missing out' or fomo is driving many to make their money moves, with over half (51%) confessing to exceeding their initial investment because of it, the regula

The article from Mirror.co.uk discusses a survey revealing that two-thirds of young investors are taking significant risks with their investments, often influenced by social media trends rather than traditional financial advice. The survey, conducted by the stock trading app eToro, found that 66% of investors aged 18-34 are engaging in high-risk investments, with many following tips from platforms like TikTok and Instagram. This trend has led to concerns about a potential "get-rich-quick" mentality among young people, with 40% of them admitting to making investment decisions based on social media content. The article highlights the risks associated with such an approach, including the lack of understanding of the investments and the potential for significant financial losses. It also notes that while social media can democratize access to investment information, it often lacks the depth and accuracy needed for sound financial decision-making.

Read the Full The Mirror Article at:
[ https://www.mirror.co.uk/money/two-thirds-young-investors-take-34334688 ]

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