Young Brits are turning their backs on traditional stocks and shares, opting instead for gold bars, luxury timepieces, and even vinyl records as alternative investment avenues.
A survey of 1,000 Gen Z and Millennials revealed that 52% are veering away from ‘conventional’ investment paths, focusing on collectables such as high-end handbags and sports memorabilia.
The study also discovered that four out of 10 believe gold is the ticket to future wealth, with over half convinced that gold will maintain its value over time. Additionally, 38% anticipate a continued rise in demand.
The research was commissioned by IRN-BRU to commemorate its Golden Girder giveaway. In this contest, four lucky fans stand a chance to win an 18-carat golden one-inch girder, valued at £10,000, affectionately referred to as the ‘One Inch Wonders’.
To celebrate the search, rush hour commuters were taken aback when they spotted a gigantic golden girder hanging next to one of Scotland’s busiest motorway sections, courtesy of the brand.
Suspended from the top of a crane, the 16 by six feet girder bore a playful message – ‘Size doesn’t matter, it’s what you do with it that counts’.
Kenny Nicholson at IRN-BRU commented: “Our poll reveals young Brits reckon the real money is in the things they genuinely love like trainers, handbags, vinyl and watches, rather than the boring world of finance – and many are already building a collection.
“We’re here to help and know lots of savvy savers would put their limited-edition ‘One Inch Wonder’ aside for the future as they see their prize’s potential for growth. It just goes to show, size doesn’t matter,”
Fans have the chance to win one of the ‘One Inch Wonder’ prizes by finding specially-marked cans or bottles in the supermarket and scanning the QR code.
Almost half of Gen Z believe their age group is savvier than older generations when it comes to growing their wealth. Four in ten put this confidence down to being more tech-savvy and 42% credited their access to online financial information.
The study found that 16% of Gen Z and Millennials have already invested in gold, with a further 56% eager to join them soon. However, there is a sense of regret among some for not investing sooner.
Experts predict that IRN-BRU’s 18-carat gold girder, which is fast becoming a collector’s item, will double in value by 2040 if the price of gold continues to rise.
Kenny added: “There’s three golden girders still out there and excitement is reaching fever pitch as Brits rush to get their hands on one.”
