New research suggests Gen Z and Millennials are ditching ‘traditional’ investment routes and are turning to alternative ways to grow their wealth
Young Brits are turning their backs on stocks and shares, opting instead for gold bars, luxury watches, and even vinyl records as they seek to profit from alternative investments. A survey of 1,000 Gen Z and Millennials revealed that 52% are abandoning ‘traditional’ investment paths, focusing instead on collectables such as luxury handbags and sports memorabilia.
The study found that four in 10 believe gold is the key to growing their wealth in the future – over half are convinced that gold will maintain its value over time, and 38% believe that demand for it will only continue to rise.
The research was commissioned by IRN-BRU to mark its Golden Girder giveaway. Four lucky fans will win an 18-carat golden one-inch girder, valued at £10,000, affectionately referred to as the ‘One Inch Wonders’. These can be located by scanning a QR code on cans or bottles in supermarkets.
To mark the search, rush hour commuters were taken aback when they spotted a massive golden girder suspended next to one of Scotland’s busiest motorway sections, hung by the brand.
Dangling from the top of a crane, the 16 by six feet girder bore a cheeky message: ‘Size doesn’t matter, it’s what you do with it that counts’.
Kenny Nicholson at IRN-BRU commented: “Our poll reveals young Brits reckon the real money is in the things they genuinely love like trainers, handbags, vinyl and watches, rather than the boring world of finance – and many are already building a collection.”
“We’re here to help and know lots of savvy savers would put their limited-edition ‘One Inch Wonder’ aside for the future as they see their prize’s potential for growth. It just goes to show, size doesn’t matter.”
Almost half of Gen Z reckon they’re more clued-up than older generations when it comes to growing their wealth. Four in ten attribute this confidence to being more tech-savvy, while 42% credit their access to online financial information.
The study revealed that 16% of Gen Z and Millennials have already invested in gold, with a further 56% eager to join the gold rush soon. Interestingly, a quarter believe that investing in alterative options could mean higher returns. For instance, 9% are banking on their vinyl collections appreciating in value.
However, there’s a sense of missed opportunities among some 59% who already wish they’d jumped on cryptocurrency and gold sooner.
Quickly becoming a collector’s item, experts predict IRN-BRU’s 18-carat gold girder will double in value by 2040 if the price of gold continues its upward trajectory.
Kenny added: “There’s three golden girders still out there and excitement is reaching fever pitch as Brits rush to get their hands on one.”
