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Study Finds How Americans Earn, Invest, and Build Wealth
From cryptocurrency, to the stock market, real estate and side hustles, Americans today have more paths to building wealth than ever before.
We surveyed Americans across generations to learn how they earn and invest their money. From the age they made their first investment to the income streams they rely on most, the results reveal not only how financial habits differ by generation, but also the shared priorities that unite them.
83% of Americans Say Multiple Income Streams Are Essential
The majority (80%) of Americans wish they had started investing earlier in life. The average American made their first investment at 27-years-old. When broken down by generation, on average, Gen Z made their first investment at 20-years-old, Millennials at 26-years-old, Gen X at 28-years-old, and Baby Boomers at 31-years-old.
Nearly 9 in 10 (88%) of Americans believe you need passive income to be financially secure in retirement and 83% believe having multiple income streams is essential for financial security.
Americans’ Top Financial Goals:
- Paying off debt – 26%
- Saving for retirement – 24%
- Growing investments – 23%
Top Financial Goals by Generation:
- Gen Z: Growing investments
- Millennials: Paying off debt
- Gen X: Saving for retirement
- Baby Boomers: Saving for retirement
When it comes to financial advice, the internet is the #1 source for Americans. This is followed by financial advisors and family. Notably, 1 in 10 Gen Z turn to social media and influencers first for financial advice.
Nearly 2 in 5 Americans Changed Investments in Last Year Due to Economy
While 92% of Americans think investing is the key to building wealth, 39% have made changes to their investments in the last 12 months due to the economy.
The top changes Americans have made include shifting to safer investments (high-yield savings, bonds, etc.), increasing how much they save, and adding new income streams. Additionally, 18% have sold stocks/mutual funds in the last year to cover everyday expenses and 15% have withdrawn from emergency savings in the last year to cover everyday expenses.
Average Amount Americans Have in Investments: $246K
- Gen Z: $32K
- Millennials: $173K
- Gen X: $311K
- Baby Boomers: $472K
The most popular investments Americans have are stocks, followed by retirement accounts, mutual funds/ETFs, cryptocurrency, and bonds.
America’s Real Estate Investing Habits
When asked about future returns, more than half (58%) believe the stock market will provide better returns than real estate (41%). Despite this, 80% of Americans believe owning real estate is an important part of building long-term wealth. There’s strong agreement across generations: 81% of Gen Z, 75% of Millennials, 77% of Gen X, and 86% of Baby Boomers share this view.
While many value real estate, only 17% of Americans have used or considered investing in Real Estate Investment Trusts (REITs), and 36% report not knowing what 1031 exchanges, Delaware Statutory Trusts (DSTs), or REITs are.
If you have an investment property or are planning on buying, learn more about how a 1031 Exchange can help preserve your assets when selling and buying investment properties. Investment Property Exchange Services, Inc. (IPX1031), is the nation’s largest 1031 Exchange company. Contact us today to start your 1031 Exchange process.
Methodology
In August 2025, we conducted a survey of 854 people from across the U.S. about their investing habits. Among respondents, 50% identified as male and 48% as female with an average age of 45.
For media inquiries, contact media@digitalthirdcoast.net
Fair Use
When using this data and research, please attribute by linking to this study and citing IPX1031.
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