TAIPEI (Taiwan News) — Generation Z began investing at an average age of 23, almost 10 years earlier than Baby Boomers, according to an HSBC report. 

The survey also stated that Taiwanese investors hold 33% of their assets in cash, per CNA. This is slightly above the global average of 32% in cash assets and 68% in investments.

Investors were divided into Generation Z (ages 25-27), Millennials (ages 28- 43), Generation X (ages 44-59), and Baby Boomers (ages 60-69). The report found that younger generations are investing a greater proportion of their wealth, with Generation Z at 61%, Millennials at 56%, Generation X at 53%, and Baby Boomers at 49%.

HSBC conducted the report in March, surveying 11,230 investors ages 25 to 69 in 11 markets. Their investable assets ranged from NT$3.2 million (US$100,000) to NT$63.9 million (US$2 million).

In the report, HSBC Southeast Asia investment and products head Ye Zhi-yu (葉子瑜) said that because millennials start investing earlier than older generations, they gain advantages in long-term holdings and compound interest effects. 

Singaporean start-up worker Shen Wei-lun (沈維倫) told CNA that he began researching the investment market between ages 23-24 and believes high-tech industries are worth following. He read financial books to learn basic investment knowledge, which helped him with financial planning after entering the workplace.