Despite the negative financial impact of the COVID-19 pandemic on many Americans, there has been a surge of new investors looking to capitalize on stock market volatility. And Charlotte area residents are investing more. Data from the Financial Industry Regulatory Authority (FINRA) recently a survey which found that 57% of respondents opened a taxable investment account in 2020.
Retail investing has been growing even pre-pandemic in some areas of the country. SmartAsset set out to identify the areas where residents are investing more. They analyzed IRS data on investment income for just under 200 metro areas nationwide. This included taxable interest, ordinary dividends, qualified dividends, and capital gains.
The Charlotte-Concord-Gastonia area ranks in the top 25 metro areas where residents are investing more. Several other NC and SC Cities are represented as well.
Details on the study, including full methodology and key findings, can be found here: https://smartasset.com/data-studies/where-residents-are-investing-more-2021.