Gen Zers and millennials have endured two “once in a lifetime” recessions during their prime earning years or at the start of their careers. That’s caused a lot of financial pain, especially for people of color, women, LGBTQ people and other populations that disproportionately face wealth gaps and financial insecurity. 

Young people are turning to cryptocurrencies and other less traditional investments because they can be an opportunity to make more cash quickly. But the risks can be enormous.

A majority of young people say they seek financial advice on TikTok, Instagram and other social media platforms instead of from licensed professionals. 

How are young people navigating these new investment choices? What should they keep in mind and steer clear of?

USA TODAY personal finance and markets reporter Jessica Menton joins host Claire Thornton to discuss what economic factors are influencing young investors during the U.S.’s current financial rebound.

Episode transcript linked here.

Also available at art19.com/shows/5-Things.

USA TODAY's series on young investors:

Black, Latino, LGBTQ investors see crypto investments like bitcoin as 'a new path' to wealth and equity

Millennial parents join the crypto craze. Should you? Here's what experts say.

Gen Z turns to TikTok, Instagram for personal finance advice despite misleading investment tips

Gen Z takes on debt to invest in market boom: Here are the risks

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