October 12, 2015 Fact of the Day: Financial Literacy
DID YOU KNOW THAT USING SOCIAL MEDIA WITH YOUNGER INVESTORS MIGHT INCREASE THEIR OVERALL FINANCIAL LITERACY?
In fact, in recent research by Spectrem Group with wealthy investors of multiple age groups and wealth levels, it was found that those Millennials that believed they were “very knowledgeable” about financial products and investments were more likely than others to read financial blogs.
Those Millennials with high levels of financial literacy rated their interest in reading financial blogs on their financial advisor’s website at a 63.49 on a 100-point scale. They were even more interested in reading financial blogs on major financial media websites at a level of 69.80 and general financial websites at 67.56.
These financially literate Millennials were the most likely to go to LinkedIn to read financial blogs compared to Facebook, Twitter or other social media channels.
If you would like to learn more about how wealthy people approach their finances compared to the rest of us, download our FREE white-paper entitled: Financial Literacy: Do the Rich Know Something That We Don’t?