Why most Australians don't invest in shares

The vast majority of Australians have never invested in shares, and there’s no great mystery why – they can’t afford it.

But the rise of fintech solutions such as Acorns has made share trading more accessible to everyday Australians, a survey by comparison site Finder suggests.

The online survey of 2017 Australians aged 18 to 90 found that three out of four people had never invested in shares. Men are nearly twice as likely to have invested in shares as women, with 35 per cent of men having tried it compared with 17 per cent of women.

The majority of shares investment is traditional ASX investing, which one in five Australians has tried. As you might expect, older people are more experienced with this than Millennials. Twenty-seven per cent of Baby Boomers and older Australians (anyone born 1959 or earlier), 23 per cent of Generation X (born 1960-1979), 14 per cent of Generation Y (born 1980-1994) and 9 per cent of Generation Z (born 1995 or later) have tried traditional ASX investing.

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Source: Why most Australians don’t invest in shares – Sydney Morning Herald