According to a survey done by Bankrate Money Pulse, “54% of Americans don’t invest despite a bull market”. This may sound shocking as there is plenty of potential across the board for investing. The lowest number of investors comes from the age group of the millennials. According to Bankrate, “only 18% of people between the ages of 18-25 are investing.
This number goes even lower once you look at marijuana stock investors. The average age range for investors in the marijuana industry is around 45-60. This may be surprising as marijuana is thought to be dominated by younger people, more comfortable with a new industry. The baby boomers are the most likely to invest in marijuana given the average aged boomer is financially secure and has the ability to have the possibility to lose money.
So why are young people not investing? Well, the speculation behind this is that growing up in an era of recession and a modern day of college debts higher than ever, millennials are not quick to spend their money. This is especially notable when there is no guarantee to get returns as is true in the stock market. The number of investors in the marijuana industry coming from the younger age group is increasing as we get closer to the 25-year-old age range. Looking at an even younger generation, usually referred to as Centennials, the number drops to single digit percents as financial security is hard to find at that age as well as disposable income.
As users of the plant typically tend to be younger, those who are investing at an older age (above 35), are typically in it solely for the financial possibilities rather than the interest factor of what is often called a sin category.
As the market of marijuana progresses, the age of investors is expected to lower slightly as people become more comfortable with the security of a market with such exponential growth.
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