Black, Hispanic and Latina Women are Newer to Investing and Focused on Generational Wealth, J.P. Morgan Wealth Management Finds
Younger Black, Hispanic and Latino investors take a more hands-on approach to their investing than previous generations
This year’s survey shows that growing wealth for future generations remains a main reason Black, Hispanic and Latina women start investing, and for the first time, analyzes the behavior of investors by age group.
“Money brings independence,” said
Here are five key takeaways from the J.P. Morgan Wealth Management 2024 Diverse Investor Study:
1. Black, Hispanic and Latina women investors are more likely to be new to investing.
- 51% of Hispanic and Latina women respondents and 46% of Black women respondents started investing outside of an employer-sponsored retirement plan less than five years ago, compared to 24% of all respondents
2. Younger Black, Hispanic and Latino investors take a more hands-on approach to their investing than previous generations.
- More than half of Black, Hispanic and Latino millennial investors surveyed prefer to take an active role in selecting the stocks, bonds or index funds that make up their portfolio (52% and 53%), compared to 45% of Black Gen Xers and boomers, 46% of Hispanic and Latino Gen Xers and 37% of Hispanic and Latino boomers
3. Creating wealth for future generations remains a top priority for Black, Hispanic and Latina women investors.
- 74% of Hispanic and Latina women investors and 69% of Black women investors surveyed say building generational wealth is a motivation to start investing
4. Investors with a plan fare better than those without one.
Respondents who have a plan for their financial goals are significantly more likely to:
- Rate their current financial health as excellent or good (70% vs. 49% for those without a plan)
- Say their financial situation is better than five years ago (62% vs. 44%)
- Have conversations with their children about finances (52% vs. 29%)
5. More than half of women are confident about their investing knowledge and three-quarters say they are risk-averse.
- 55% of women respondents say they’re confident about their investment knowledge, compared to 76% of men
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77% of women respondents describe their investment strategy as risk-averse, compared to 58% of men
For this study,
Read the full J.P. Morgan Wealth Management 2024 Diverse Investor Study here: https://www.jpmorgan.com/content/dam/jpmorgan/documents/wealth-management/diverse-investor-study-2024.pdf
Read more about the study’s key findings on The Know: https://www.chase.com/personal/investments/learning-and-insights/article/diverse-investor-study-black-hispanic-and-latina-women-are-newer-to-investing-focused-on-generational-wealth
To learn about ways to invest with J.P. Morgan Wealth Management, visit: https://www.chase.com/personal/investments
Methodology
The J.P. Morgan Wealth Management 2024 Diverse Investor Study was conducted
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