High-net-worth individuals believe U.S. stocks offer the best opportunities for growing assets, but that conviction is less held by younger investors finds the 2024 Bank of America Private Bank Study of Wealthy Americans. Millennials and Gen Z are increasingly looking beyond the traditional stock and bond markets to build their wealth and are driving demand for everything from investment real estate and private equity to digital assets and gold.
"We're living through a period of great social, economic and technological change alongside the greatest generational transfer of wealth in history," said Katy Knox, president of Bank of America Private Bank. "Our study shows that wealthy Americans are focused on diversification, long-term goals and making a lasting impact with their wealth."
Some 72 percent of younger investors (ages 21-43) believe it is no longer possible
