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A recent survey by Fin One (an educational website of Angel One) and Nielsen reveals that 39% of millennials and Gen Z Indians have invested in mutual funds.
The report surveyed 1650 participants in the age group of 18 to 35 who earn at least Rs. 15,000 per month.
The study also found that only 20% of respondents prefer mutual funds over other investment options. However, 45% of respondents prefer direct stocks.
Here are other key highlights of the survey:
- 80% millennials and Gen Z manage to save 20-30% of their salary
- 85% young adults have a bank account dedicated to their savings and investments
- Nearly 80% of the survey participants said that they save for financial security and future investments. 59% said they save for emergency funds while nearly 50% percent said they save for personal goals like purchasing a car/house.
- 85% of respondents said day to day expenses hinder their ability to save and invest
- 80% of respondents view diversification as important tool to reduce risks
- 40% respondents began investing in their early 20s
- Young adults consider flexibility and high returns as the most important factors when selecting investment products
- YouTube is considered the top source for education for 62% of young adults. This was closely followed by referrals through family and friends, resources offered by direct platforms and social media like Instagram. 42% of respondents said they seek help of MFDs/advisors to get financial knowledge
