Straight from my own keyboard, here’s the article reimagined with a sprinkle of wit and a dose of thoroughly riveting conversation:

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“Old School” vs “New Age”: Financial Choices Turning Heads

Well, well, who knew? Chalk it up to the age-old generation gap. The latest wrinkle in this timeless debate is in the realm of investing: The millennials and Gen Z have kicked shares to the curb, replacing them with cryptos and this intriguing species called alternative investments. No, we’re not talking avocados and vintage vinyl here, folks.

This juicy tidbit is courtesy of Bank of America’s “2024 Study of Wealthy Americans”, an engrossing peek into the evolving world of investments across age brackets. If you’re wondering, the 44+ brigade are still dancing to the old tunes with 55% of their cash parked in stocks and a measly 1% dabbling in cryptos. The youngsters, however, are cranking up the volume with a cool 14% bet on cryptos.

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The Generational Investment Chasm

Talk about being worlds apart! The study paints a picture of two factions – the old guard and the young rebels – who see money matters through vastly different lenses. The youngsters are shrugging off traditional portfolio strategies like the 60/40 split (you know, 60% stocks, 40% bonds), with their flirtation with broader diversification.

Murmurs in the financial streets tell us that the younger generation is flashing the cash at real estate, cryptocurrencies, and private equity, while the older folks are stuck on domestic stocks, real estate, and emerging-market equities. BofA notes, “the financial divide is deepening, with the old brigade betting on stocks and bonds and the young ones diversifying.”

A huge chunk of this divide stems from a lingering distrust towards the market. Ever heard of a generation that’s 72% skeptical of traditional investments? Well, you have now! Additionally, a hefty 75% of these young investors don’t believe smashing returns can come from stocks and bonds alone. Was that you gasping in disbelief, Gen X and Boomers?

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The Starry-eyed Rise of Alternative Assets

Cryptocurrency and alternative asset classes are all the rage these days – the scrabble-scope has spoken! Remember Bitcoin? Yeah, the digital maverick that debuted in 2009. Ethereum, the crypto nerds’ silver medallist, launched in July 2015. Take note, it’s not been a slow ascent!

Now, these “alts” no stranger to the market – they’ve played the long game since the 1700s. Remember when our mates Christie’s and Sotheby’s put artworks on the shopping aisle?

Everything changed in April 2012, when then-President Obama penned the JOBS Act into law, giving the masses access to new asset classes that until then graced only the portfolios of the Richie Rich club. Long story short, the Act accelerated the growth of alternative investment opportunities.

Thanks to this notch in financial history, you and I can play A-list investors, with fractional shares in fine art, rare wine, sport memorabilia, classic cars, oh, and even dinosaur bones. You heard right! Thanks to the JOBS Act, all these (and more!) are no longer behind the velvet rope.

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A Grain of Salt…

Now, before you take all of this to heart and completely rewrite your investment playbook, remember to err on the side of caution. Bloomberg’s analysis primarily focuses on a niche demographic- American adults with $3 million or more in investable assets (aka not your average Joe). Don’t forget, the young guns represented only 13% of the total survey takers—so, don’t take this as gospel.

Read More:

– Basically Every Stock Market Index Is at — or Near — an All-Time High Right Now
– This Is the Best Investment Right Now, According to Financial Planners
– Why the Recent Rise in Stock Buybacks Is a Good Sign for Investors

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