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D3b Still Feverish: Following Up With Investors Who Entered the Market in 2020
Short Description
In late 2020, we surveyed 1,291 households with taxable investment accounts, including 460 new investors who first began investing in 2020, using a nationally representative, probability-based panel. The results of that study indicated that new investors were younger, had lower incomes, and were more racially and ethnically diverse than investors who entered the market prior to 2020. New Investors held smaller balances in their taxable accounts and reported different goals and information sources when compared to more tenured investors. Notably, new investors frequently reported a desire to learn about investing as a motive for opening their new accounts. As investing knowledge in this group was generally lower than that of more experienced investors, this was an important finding. Since the release of this study, a number of events have ensued with potential impacts to retail investors. To understand how these issues may have impacted the new investors originally surveyed in 2020, we designed a follow-up study to revisit these investors in the fall of 2022. We resurveyed 908 of the original 1,291 households examined in 2020, including 318 new investors, to ask them about the new taxable account they opened in 2020 and their experiences with investing since then.
Type of presentation
Accepted Oral Presentation