Connect with us

Markets

This Chart Shows How Different Generations Would Invest $10,000

Published

on

This Chart Shows How Different Generations Would Invest $10,000

How Different Generations Would Invest $10,000

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

If someone slipped you a $10,000 check and told you to invest it, what would you do with the money?

With no strings attached, there is a wide variety of ways that you could deploy that cash.

You could look at it as a one-time windfall that could shore up your personal balance sheet, or you could go at it much more aggressively. It’s money that you didn’t expect to receive, so why not throw it at high-risk, high-reward assets?

How to Invest $10k?

Today’s chart is based on a survey from LendEDU, which posed this exact question to 1,000 Americans in March 2018:

Question: If you were given $10,000 tax-free and had the ability to invest all of it in one of the following options, which would you choose?

Here are the results of the sample as a whole:

How to Invest $10K?% of Respondents
Pay down debt27.3%
Real estate13.5%
Savings account or CDs12.2%
401(k) or Roth IRA9.9%
Stock market7.2%
Child's education6.9%
Small business6.2%
Virtual currency5.1%
Education3.2%
Other/Unsure8.5%

Note: We’ve made slight adjustments to the original answers, combining one low-performing category (P2P loans) into the “Other” category

Paying down debt (27.3%) was by far the most popular response. It’s also interesting to see that many people would opt to put the $10k towards their own small business, education, or even digital currencies like Bitcoin, Ethereum, or Litecoin.

Now, here’s the same data grouped together by generations:

How to Invest $10K?Millenials (18-34)Gen X (35-54)Boomers (55+)
Pay down debt22.4%25.3%33.1%
Real estate15.1%14.6%11.2%
Education9.9%1.1%0.3%
Virtual currency9.2%4.0%3.1%
401(k) or Roth IRA8.5%9.4%11.5%
Other/Unsure8.1%8.6%8.7%
Savings account or CDs7.7%10.8%17.1%
Stock market6.6%8.1%6.7%
Child's education6.3%11.3%2.8%
Small business6.3%6.7%5.6%

Interestingly, certain answers had the same popularity across the board for all generations.

All groups were equally interested in investing in their small businesses. The highest response here came from Gen X at 6.7%, but Millennials and Gen X weren’t far off at 6.3% and 5.6% respectively.

In addition, investing in the stock market was pretty consistent as well, with Millennials at 6.6%, Generation X at 8.1%, and Boomers at 6.7%. All these groups were mostly interested in doing this through a human financial advisor, though Gen X gave robo-advisors a higher rate of consideration (20%) than other generations (11% Millennials, 4% Boomers)

Generational Differences

Some generational differences are as to be expected. For instance, barely any Baby Boomers (0.3%) wanted to put $10,000 towards their own education. This makes sense, since many are at or near retirement already. On the other hand, 9.9% of Millennials opted for an investment in education.

But here’s a situation that might be a bit more peculiar. One would guess that with student debt being at $1.5 trillion in the United States, many Millennials would opt to pay down debt with their $10,000 check. Interestingly, fewer Millennials (22.4%) chose to pay down debt than either Gen X (25.3%) or Boomers (33.1%).

On the same token, Millennials were more likely to choose either real estate (15.1%) or cryptocurrency (9.2%) as an investment. For contrast, look at Boomers, a group that had 11.2% choose real estate and only 3.1% choose crypto.

Click for Comments

Markets

Who Owns the Most Vehicles per Capita, by Country?

Here are the highest vehicles per capita by country as a growing global middle class is fueling car ownership rates around the world.

Published

on

This bar graph shows the number of vehicles per 1,000 people around the world.

Who Owns the Most Vehicles per Capita, by Country?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In 2020, there were 289 million vehicles in use in America, or about 18% of the global total.

With one of the largest car ownership rates worldwide, the number of U.S. cars on the road have more than doubled since the 1960s. But how does ownership compare to other countries, and who is seeing the fastest growth rates amid a rising global middle class?

This graphic shows vehicles per capita by country, based on data from the International Organization of Motor Vehicle Manufacturers (OICA).

Highest Car Ownership Rates Worldwide

Below, we rank countries based on the number of registered vehicles in use per 1,000 people, including both passenger cars and commercial vehicles as of 2020:

CountryNumber of Vehicles in Use
per 1000 Inhabitants
Average Annual Growth Rate
2015-2020
🇳🇿 New Zealand8693%
🇺🇸 U.S.8602%
🇵🇱 Poland7614%
🇮🇹 Italy7561%
🇦🇺 Australia7372%
🇨🇦 Canada7073%
🇫🇷 France7041%
🇨🇿 Czechia6583%
🇵🇹 Portugal6402%
🇳🇴 Norway6351%
🇦🇹 Austria6322%
🇬🇧 UK6322%
🇩🇪 Germany6272%
🇪🇸 Spain6272%
🇬🇷 Greece6171%
🇯🇵 Japan6120%
🇨🇭 Switzerland6041%
🇧🇪 Belgium5901%
🇳🇱 Netherlands5882%
🇫🇮 Finland5771%
🇸🇪 Sweden5441%
🇩🇰 Denmark5402%
🇮🇪 Ireland5403%
🇲🇾 Malaysia5356%
🇸🇰 Slovakia5133%
🇱🇾 Libya4904%
🇧🇬 Bulgaria485-1%
🇭🇷 Croatia4743%
🇸🇾 Syria4727%
🇭🇺 Hungary4634%
🇰🇷 South Korea4582%
🇷🇴 Romania4387%
🇮🇱 Israel4044%
🇷🇺 Russia3892%
🇧🇾 Belarus3871%
🇲🇽 Mexico3584%
🇹🇼 Taiwan3441%
🇦🇪 UAE3438%
🇷🇸 Serbia3304%
🇦🇷 Argentina3110%
🇹🇭 Thailand2775%
🇨🇱 Chile2461%
🇰🇿 Kazakhstan226-1%
🇨🇳 China22314%
🇹🇷 Türkiye2204%
🇧🇷 Brazil2141%
🇺🇦 Ukraine192-1%
🇮🇷 Iran1832%
🇿🇦 South Africa1761%
🇪🇨 Ecuador1523%
🇻🇪 Venezuela149-1%
🇩🇿 Algeria1443%
🇲🇦 Morocco1124%
🇨🇴 Colombia1111%
🇮🇶 Iraq1114%
🇵🇪 Peru884%
🇮🇩 Indonesia785%
🇪🇬 Egypt644%
🇳🇬 Nigeria565%
🇻🇳 Vietnam5017%
🇵🇭 Philippines383%
🇮🇳 India3310%
🇵🇰 Pakistan207%

Clinching top spot is New Zealand, a country known for its love of cars.

With nearly nine cars on the road to every 10 people, this figure is notably high considering that children make up about 20% of the population. The majority of cars are imported second hand from Japan thanks to a wave of deregulation in the 1980s along with the country being a major producer of right-hand drive cars.

The U.S. falls close behind, with a clear preference for trucks and SUVs. In fact, the Ford F-1 Series has been the best-selling vehicle in America for 42 consecutive years.

In Europe, Poland has the highest number of vehicles per person, but one of the lowest share of electric vehicles (EVs). While EVs make up nearly 16% of all cars in top-ranking country Norway, they comprise 0.1% in Poland. On average, EVs account for 0.8% of passenger cars in the European Union.

Driven by an expanding middle class, Vietnam has seen the fastest growth in ownership. Between 2015 and 2020, the motorization rate grew by an astonishing 17% each year. Additionally, China witnessed 14% growth while India’s vehicles per 1,000 people increased 10% annually over the period.

The Top EV Markets, by Country

As EV sales gain momentum, here are the biggest markets worldwide, based on the number of all-EV cars in use as of 2022:

CountryEstimated Number of EVs in Use
2022
🇨🇳 China11,000,000
🇺🇸 U.S.2,100,000
🇩🇪 Germany1,000,000
🇫🇷 France620,000
🇳🇴 Norway590,000
🇬🇧 UK550,000
🇳🇱 Netherlands340,000
🇰🇷 South Korea300,000
🇨🇦 Canada250,000
🇯🇵 Japan210,000

Source: IEA Global EV Outlook 2023

China is home to over half of the world’s EVs.

Its foothold on the global EV market can be explained by its close proximity to the raw materials used in EV batteries. In fact, China produces roughly 70% of the world’s rare earth metals and has more battery production capacity than all other countries combined.

Adding to this, China developed key government policies that specifically tackled operational hurdles, such as battery constraints, leading to innovation in core technologies. In 2023, EVs made up 31% of all car sales in China, boosted by government incentives and strong consumer demand.

Norway is another leader in the EV market, whose government began introducing EV policies as early as 1990. By 2025, the country aims to phase out internal combustion engine vehicle sales completely. About 80% of all vehicles sales in Norway were EVs in 2022, the highest in the world.

Continue Reading

Subscribe

Popular