Question of the Day: What was the #1 reason new Latinx/Hispanic investors gave for opening investment accounts in 2020?

Sep 29, 2021
Question of the Day, Investing


Note: Investment accounts are more accessible now due to commission-free trading, minimums as low as $1 and the ability to buy fractional shares of stock 


  • What would motivate you to open an investment account? For those who have an investment account, explain your reasons for opening it. 
  • How much money do you think you need to invest in the stock market to get started? 
  • How might new investors that are 18 or 19 years old answer this question differently from new investors in their 40s? 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from FINRA study):

Striking differences emerged among race/ethnicity groups when we examined what prompted investors to open a new account during 2020. Saving for retirement prompted more than one-quarter (26 and 28 percent, respectively) of white and Hispanic/Latino investors and more than one-third (34 percent) of Asian investors to open an account. However, saving for retirement did not rank among the top five prompts for African American investors.


Looking for more questions to get your class off to a great start? Check out NGPF's Question of the Day library


About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.