Social investing is a popular concept among millennials looking to invest, but many of this generation’s investors have yet to start such invest in a “socially responsible” manner, according to a study by Swell Investing.
Released last Monday, the study found that 54% of millennial investors say that they are not investing in socially conscious options, but have plans to do so in the future.
Social investing is a method by which investors put their funds into companies that have environmental, cultural, or otherwise “positive” impacts.
While the idea is growing, with several companies such as Aspiration focused around this ideal, there could be a few reasons for this delay in action, according to the study.
A portion of millennial investors, 27% of those surveyed, are concerned that their money isn’t really being used to back companies with the kind of positive impact millennials are interested in, according to the study.
Another factor could be the number of millennials who are investing at all. Swell’s study polled 2,200 adults in the U.S., with 436 individuals polled categorized as millennials (those aged between 18 and 36).
However, only 235 of those millennials reported that they currently had investments of any type, let alone socially conscious investments.
Take a look at the full survey here.2 - Readers Like This Post