Generation Z is known for its bold investment strategies, but it’s older Americans, particularly those over 70, who are significantly influencing the stock market, now owning 39% of all stocks and mutual funds. Their increased risk tolerance and a shift away from traditional investment advice have contributed to this trend, with nearly half of the $24 trillion rise in stock wealth since the financial crisis attributed to this age group. This change, influenced by a growing sense of financial security, raises concerns about the long-term implications during potential downturns. Financial experts note that older investors often allocate over 60% of their portfolios to stocks, defying conventional wisdom that suggests a lower stock allocation with age.
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