Young Brits are shunning stocks and shares in favour of gold
A poll of 1,000 Gen Z and Millennials found 52% are ditching ‘traditional’ routes for collectables and commodities.
With luxury handbags (20%), cryptocurrency (32%), and sports memorabilia (20%) making the cut.
Four in 10 think trusty gold is the key to future riches, while 32% reckon the crypto craze could pay off in the long run.
A quarter (24%) believe adding unconventional investments could have a higher returns potential, and 23% see certain alternative assets as the future of investing.
The research was commissioned by IRN-BRU to celebrate its Golden Girder giveaway which will see four fans win a 18-carat golden rarity worth £10,000, that comes in the form of one-inch girders, or ‘One Inch Wonders’ – and can be found by scanning a QR code on cans or in supermarkets.
To mark the hunt, rush hour commuters were stunned to see a massive golden girder suspended beside one of Scotland’s busiest sections of motorway, hung by the brand.
Measuring 16 feet by six feet from a crane, it displayed a cheeky message that said – ‘Size doesn’t matter, it’s what you do with it that counts’.
Kenny Nicholson at IRN-BRU said: “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.”
It also emerged 16 per cent of Gen Z and Millennials have already snapped up gold, with another 56% keen to get in on the action soon.
That compares to 28% who have dipped their toes into cryptocurrencies and 9% hoping their vinyl collections will appreciate in value.
When it comes to the precious metal, 52% reckon gold will hold its value over time, and 38% think demand will keep rising.
Almost half (49%) believe their age groups are savvier than older generations it comes to growing their wealth.
With 44% putting it down to being more tech-savvy and 42% crediting their access to financial info online.
However, it’s not all smooth sailing – 59% already regret missing out on past opportunities, with cryptocurrencies (34%) and gold (16%) topping the list of investments they wish they’d jumped on sooner.
The study, conducted by OnePoll, also delved into how youngsters would handle a windfall.
Nearly four in 10 (39%) would invest it for long-term growth, while 15% admitted they’d cash out immediately.
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 to climb.
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.”
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