NUMBER CRUNCH

Half of All Millennials Plan to Put Half Their Stimulus Money into the Stock Market

The other half of their stimulus will obviously go toward avocado toast

50%: That’s the share of their stimulus checks that half of American 25- to 34-year-olds are planning to spend on stocks, according to survey data cited by Markets Insider. The survey, conducted by Deutsche Bank Research, found that this age group has more aggressive equity plans for any stimulus funds than either older or younger investors — but that significant chunks of every age bracket are eyeing stocks as a place to park at least some of this new cash.

The standout status of that young-adult cohort makes sense, as the survey also found that over the past 12 months, a majority of those buying stocks for the first time — 61% — were under 34. These newbie investors, Markets Insider notes, “are more aggressive, as seen in the spike in the number of people employing some form of borrowing or leverage (26%) compared to those who had been investing for one to two years (9%) or longer (3%).” No doubt the rise of no-fee trading led by popular app Robinhood and its rivals, combined with a year of lockdown boredom, have fueled the trend.