The Fed said earlier this month that it would pause interest rate hikes for the second time since March 2022. While the pause brings hope that long-sticky inflation might be on its way out of the picture, which bodes well for the stock market and investing in general, the pause brings hope that long-sticky inflation might be on its way out of the picture.
SoFi, a personal finance firm, has released a report that will take stock of investor behavior and attitudes after the first half of 2023. The firm calculated that two-thirds of investors think the country is currently in a recession. A majority of them say they're lagging in achieving their investing goals.
Despite this, despite a bleak situation, three-quarters remained bullish on their market outlook.
Here are the top five places investors have put their money during the first half of the year, along with the percentage of SoFi poll respondents who said they're invested in each category.
Crypto and ETFs, both of the most popular investments, are also the two areas where investors feel they lack the most knowledge. Almost one-third of the surveysurveyed said they don't know enough about crypto or ETFs to invest in them. In index funds and real estate also fall into this gap, about one-quarter of respondents saying they don't know enough to invest in either.
What are the different generations of investors worried about?
Of that group, 56% said they haven't invested enough at this point in their lives. Gen X is the most worried about falling behind, or people ages 43 to 58. Nearly two-thirds of this generation haven't invested enough money, compared to just two-thirds a decade ago.
Boomers are the only generation that feels more confident than not in how much they have invested, with only about 43% of 59-to-77-year-olds concerned that they haven't done enough.
The biggest fears investors have are in the realm of not doing enough, rather than doing too much. About 30 percent fear being too conservative and 38% worried about not investing enough, whereas only 14% worry about being too aggressive.
I agree to Money's terms of use and privacy notice and consent to the processing of my personal information.
All information provided here is accurate as of the published date.