A significant number of Australian millennials intend to retire at the age of 50 using their investments in exchange-traded funds (ETFs) and cryptocurrencies, according to a survey conducted by Pearler in May.
Besides crypto, the survey report confirms a growing interest among Aussie millennials for ETFs. Pearler is an online broker for long-term investors in Australia, and over 90 percent of its trading activities are concentrated on ETFs and listed investment companies (LICs).
Only 35% Are Investing With a Goal in Mind
Pearler polled about 850 Australian investors, most of whom were female – only 49 percent identified as male. Ninety percent of the respondents said they were investing for the long term. However, only 35 percent were investing with the goal of earning passive income from their assets, and attaining “financial independence” that will enable them to retire early.
Most Millennials Hold ETFs and 5% in Crypto
ETFs and LICs were the most traded assets on the platform. According to Pearler co-founder Nick Nicolaides, investors aren’t interested in volatility, nor are they trying to go for the hotshots or pick stocks from the ASX 300.
Nevertheless, cryptocurrency was considered to be the second-most popular asset class for investors. Most Pearler users said they allocated up to five percent of their assets in cryptocurrencies on different platforms, since Pearler doesn’t yet offer any crypto-related product.
It’s evident there is growing interest in crypto assets among millennials. As Crypto News Australia reported last month, almost half of millennial millionaires allocated at least 25 percent of their assets in cryptocurrencies.
This trend is not new to young Australians, as a Kraken survey last month revealed about 40 percent of millennials prefer crypto over real estate.
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