Connect with us

Personal Finance

Charted: Investment Preferences by Generation in the U.S.

Published

on

charting some investment habits by generation in the U.S.

Investment Preferences by Generation in the U.S.

Different generations grow up with different values and different economic realities, causing investment preferences by generation to vary across the board.

The above graphic shows how different generations invest—from millennials to boomers—based on June 2023 survey data from Charles Schwab.

Which Generations Prefer ETF Investing and Personalization?

Which generation prefers ETFs the most, and which cares about investments that reflect their values?

In the table below, we show survey data from 2,200 American investors in 2023 surrounding their views on investing. Here are the shares of different generations that agreed with the following statements:

Statement by Agreeable ShareMillennialsGen XBoomers
ETFs are my investment vehicle of choice 89%78%67%
I'm extremely confident when choosing ETFs58%41%29%
It's extremely important that my investments
align with my beliefs & values
57%36%30%
I'm very likely to further personalize my
portfolio in 2023
51%36%21%

Millennials, who are born between 1981 and 1996, have the strongest preference for ETFs. They also are the most confident when choosing these types of investments.

In addition, 57% said that it was extremely important for their investments to align with their values, which are more individualistic. This was nearly double the share of those in the baby boomer generation, born between 1946 and 1964.

In line with this trend, other personalization features appealed to millennials, while this factor dropped with each subsequent generation significantly.

“Investors’ desire to have more control and alignment of investments with their personal views is a major long-term shift that is still in the early innings”

-David Botset, Head of Equity Product Management and Innovation at Schwab Asset Management

Click for Comments

Maps

Mapped: The Income a Family Needs to Live Comfortably in Every U.S. State

Families in expensive states require over $270,000 annually to live comfortably.

Published

on

A map showing the income that two working adults with two children need to live comfortably in each U.S. state.

The Income a Family Needs to Live Comfortably in Every U.S. State

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.

Families in the top five most expensive U.S. states require an annual income exceeding $270,000 to live comfortably.

This visualization illustrates the income necessary for two working adults with two children to maintain a comfortable lifestyle in each state.

“Comfortable” is defined as the income needed to cover a 50/30/20 budget, with 50% allocated to necessities like housing and utilities, 30% to discretionary spending, and 20% to savings or investments.

The calculations for family income needed in each state were done by SmartAsset, using the cost of necessities sourced from the MIT Living Wage Calculator, last updated on Feb. 14, 2024.

Massachusetts Tops the List

Massachusetts is the most expensive state to live comfortably in, requiring a total family income of about $301,184. Hawaii ($294,611) comes in second, followed by Connecticut ($279,885).

Housing is one main reason Massachusetts is an expensive state to live in, particularly in the Boston area. In addition, the state also has a high cost of living, including expenses such as healthcare and utilities.

RankStateIncome for 2 working adults raising 2 children
1Massachusetts$301,184
2Hawaii$294,611
3Connecticut$279,885
4New York$278,970
5California$276,723
6Colorado$264,992
7Washington$257,421
8Oregon$257,338
9New Jersey$251,181
10Rhode Island$249,267
11Vermont$248,352
12Minnesota$244,774
13New Hampshire$244,109
14Alaska$242,611
15Maryland$239,450
16Nevada$237,286
17Virginia$235,206
18Illinois$231,962
19Arizona$230,630
20Pennsylvania$230,464
21Maine$229,549
22Delaware$228,966
23Wisconsin$225,056
24Utah$218,483
25Michigan$214,490
26Nebraska$213,075
27Georgia$212,826
28Montana$211,411
28Iowa$211,411
30Idaho$211,245
31North Carolina$209,331
31Ohio$209,331
33Florida$209,082
34Indiana$206,003
35New Mexico$203,923
36Wyoming$203,424
37Missouri$202,259
38North Dakota$202,176
39Texas$201,344
40South Carolina$200,762
41Kansas$196,768
42Tennessee$195,770
43Oklahoma$194,106
44Alabama$193,606
45South Dakota$192,608
46Kentucky$190,112
47Louisiana$189,613
48West Virginia$189,363
49Arkansas$180,794
50Mississippi$177,798

Meanwhile, Mississippi is the least expensive state for a family to live comfortably, requiring $177,798 per year. Arkansas ($180,794) comes in second, followed by West Virginia ($189,363). In common, all these states share low prices of housing.

Learn More About Cost of Living From Visual Capitalist

If you enjoyed this post, be sure to check out this graphic, which ranks the median down payment for a house by U.S. state.

Continue Reading
TheCurrency-SubscribeHere

Subscribe

Popular