Markets
How Investment Goals Vary by Country and Age
How Investment Goals Vary by Country and Age
It goes without saying that investors want to see their money grow.
However, it turns out that why investors want their money to grow changes considerably, depending on who you are talking to.
Investment Goals by Geography
Today’s infographic from Raconteur first shows why people invest based on country of residence.
In the following table, we’ll show selected data to illustrate an interesting contrast between North American, Asian, and European cultures:
Country | Primary Investing Goal | Percentage |
---|---|---|
Canada | Saving for retirement | 78% |
USA | Saving for retirement | 71% |
UK | Saving for retirement | 71% |
Hong Kong | Saving for retirement | 48% |
Germany | Saving for retirement | 40% |
France | Saving for retirement | 27% |
UAE | Saving to start a business | 31% |
China | Beneficiaries / estate planning | 42% |
In Canada, the United States, and the United Kingdom, saving for retirement is the primary investment goal for 70% or more of all respondents. However, in Europe and Asia, there is a much wider diversity of investment goals.
In Germany and France, for example, close to a quarter of respondents mentioned that saving for an emergency was their primary goal, behind saving for retirement. Meanwhile, in the UAE and in China, the primary investment goal was not retirement – it was instead saving to start a business (UAE) and setting up family and/or beneficiaries for success (China).
Goals by Generation
It’s not just geographical boundaries, the level of economic development, and the local culture that impacts investment goals.
Another factor is generational: Baby Boomers, Gen Xers, and Millennials are at very different stages of life, and each generation has their own quirky preferences, anyway.
Statement (I want to…) | Highest Agreeance | Lowest agreeance |
---|---|---|
Retire comfortably | Boomers | Millennials |
Make sure money is safe | Boomers | Millennials |
Preserve as much wealth as possible | Boomers | Millennials |
Pass on wealth to my heirs and others | Millennials | Gen Xers |
Ensure I have funds to pay for important events | Millennials | Boomers |
Invest at the lowest cost possible | Boomers | Gen Xers |
Have the best advice possible and am willing to pay | Millennials | Boomers |
Retire early | Gen Xers | Boomers |
Not miss out on market opportunities | Gen Xers | Boomers |
Choose riskier investments to build wealth fast | Millennials | Boomers |
Not surprisingly, as people get older, their goals shift away from making immediate big-ticket purchases, and holding riskier investments for a higher rate of return. Later on in life, goals are more focused on retirement and maximizing wealth.
That said, there are some anomalies in the above data that are interesting.
For example, Millennials – not Baby Boomers – are most concerned about building wealth to pass onto their heirs. Finally, it is the Millennials that are willing to pay the most for investment advice, in order to get the best possible result.
Markets
Visualizing California’s GDP Compared to Countries
California’s GDP makes the state one of the most powerful economies in the world. This graphic compares it to the GDP of 10 select countries.

California’s GDP Compared to Countries
Comedian Trevor Noah once said America is fifty little countries masquerading as one.
From an economic sense, this might carry some truth. When looking at the economic output of each state, especially the largest and wealthiest ones, they often compare to or even exceed the GDPs of entire nations.
To illustrate, this visual from StatsPanda looks at California’s $3.36 trillion GDP using data from The World Bank and compares it to 10 sizable country economies. Let’s take a closer look.
Sizing Up California’s GDP in 2021
California’s $3+ trillion GDP is an enormous figure in its own right, so it’s no surprise that it is larger than certain nations’ economic output.
But even when comparing with economies like Malaysia, Colombia, and Finland, all among the top 50 countries by GDP, California stands tall.
Country | GDP (2021 USD) |
---|---|
🇲🇾 Malaysia | $372B |
🇭🇰 Hong Kong | $369B |
🇻🇳 Vietnam | $366B |
🇮🇷 Iran | $359B |
🇵🇰 Pakistan | $348B |
🇨🇱 Chile | $317B |
🇨🇴 Colombia | $314B |
🇫🇮 Finland | $297B |
🇷🇴 Romania | $284B |
🇨🇿 Czechia | $281B |
Total | $3,307B |
California | $3,357B |
What’s more, these 10 countries are quite densely populated, with a combined population of 653 million compared to California’s 39 million total.
A Closer Look At California’s Economy
What makes California’s GDP so vast and their economy so powerful?
Relative population is a big factor, as the state is the most populous in the U.S. with roughly 12% of the country’s population calling it home. But since California’s GDP makes up over 15% of the country’s economic output, there must be something else at work.
One key driver is the technology sector. Not only does Silicon Valley generate massive amounts of technological output, this also translates directly to wealth and economic activity. Many tech markets follow winner-take-all dynamics, bringing large revenues back to the state. In addition, smaller technology companies are frequently gobbled up by larger competitors, adding wealth back into the mix through M&A.
This might partly explain why California’s GDP is actually estimated to overtake Germany’s in the coming years and become the world’s 4th largest economy.
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