July 29, 2015 Fact of the Day: Millionaires use social media to do THIS!
DID YOU KNOW THAT NOT ALL MILLIONAIRES WANT TO OBTAIN FINANCIAL INFORMATION IN THE SAME WAY?
Social media IS everywhere, but its use in the financial arena is still limited….but expected to grow.
Less than 5% of Millionaires are using social media for financial tasks such as investment research, finding an advisor, or reading relevant articles. The exception to this is watching financial videos. 28% of Millionaires use YouTube, and 21% of watch financial videos on YouTube.
The incidence of watching financial videos is even higher among those under age 35 (62%), those who are dependent on advisors (29%), and Millionaires who are professionals of some kind (32%).
But watching videos is not the preferred way to get information about financial and investment issues. Millionaires prefer to read articles (54%), or actually talk to someone (39%) over watching videos on social media (4%).
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