What You Need to Know
- More than half of Gen Zers in a MagnifyMoney survey admitted to buying or selling investments while intoxicated.
- Two-thirds of survey respondents said they regretted an impulsive or emotionally charged investing decision.
- Nearly a third said they had cried over investing.
Driving while drunk is a crime. What about investing while drunk?
This question is not as ridiculous as it may sound. Thirty-two percent of investors in a new survey from MagnifyMoney acknowledged that they have bought or sold an investment while intoxicated, including 59% of Gen Zers.
The finding emerged from MagnifyMoney’s research into whether investors allow emotions to influence their portfolios. It commissioned Qualtrics to conduct an online survey in June among 1,116 U.S. consumers with an investment account, ranging in age from 18 to 75.
Two-thirds of survey respondents said they regretted an impulsive or emotionally charged investing decision. Gen Zers and millennials were more likely than their older counterparts to say they had made such a decision.
The survey found that investors who manage their own portfolios are likelier to make — and regret — impulsive investing decisions than those who let a financial advisor manage their portfolios.
Seventy-one percent of respondents who make their own investments said they have made a regrettable decision, compared with 59% of those who take a more hands-off approach.