Why financial progress starts with an ambitious mindset, not a high income

Sydney, Australia, 14 October 2025 – Australia is at a financial crossroads. New research from online investment platform Stake reveals the nation is splitting into two distinct groups: the ‘Starters’ who invest and feel in control of their future, and ‘Stallers’ who don’t invest and feel defeated by their circumstance.

The 2025 Stake Ambition Report, which surveyed more than 2,000 Australians, reveals that while investing is widely understood as a strategy for financial progress, Starters (investors) also receive a clear psychological benefit, with the act of taking action giving them a stronger sense of optimism and control in life. This is highlighted by Starters being 41% more likely than Stallers (non-investors) to feel they can succeed financially, even in a tough economy (69% vs. 49%). A trend of optimism which was observed across Starters of all income brackets.

However, despite the positive benefits on both mind and money, almost 50% of Australians don’t invest. A perceived lack of funds was cited as the primary barrier to investing for 56% of Stallers across all income brackets, even though 70% of those have actively contributed to their savings in the past six months. Even a third (36%) of non-investors earning $151,000+ don’t think they have enough to invest, demonstrating that despite the money being there, the ambition is not. 

Matt Leibowitz, CEO & Founder of Stake comments: “This research highlights Australia needs to better equip everyone so they feel confident to invest. Particularly in a tough economic environment where more and more Aussies are feeling left behind. Our mission is to close that ambition gap between Starters and Stallers by not just breaking down the rational barriers to investing, but also by empowering them with an ambitious mindset to take action. We call that the Investing EQ.”

On the other side of the coin, ‘mateship’ is the most powerful factor driving Starters to start investing. The report shows investors are more tuned in to their peers' financial standing (54% vs. 44%), which suggests seeing others make moves gives Australians the nudge needed to turn personal ambition into tangible action. For Stallers, looking to friends for inspiration could give them the catalyst needed to leap over any psychological hurdles they’re facing.

Sam Paul, Managing Director of The Behavioural Architects breaks down why investors are influenced more by their friends than family (36% vs. 32%):

“This data reveals a psychological shift in who we trust for financial guidance, as the traditional playbook that worked for our parents feels unrelatable in today's economy. We see this in the data, where investors are more driven to invest by their peers than their family. Seeing friends and colleagues navigate the same challenges and still make financial progress provides powerful, relatable proof that it’s possible to get ahead, giving people the confidence to back themselves.”

Ambitious Australians are challenging the inheritocracy

Around half of Australia’s younger generations (55% of Gen Z and 49% of Millennials) now believe what you inherit is more important than how hard you work. This belief not only demonstrates the growing impact of Australia’s inheritocracy but also signals a clear rejection of hustle culture. 

Having realised the old system of working hard to buy a house is broken, younger Australians aren’t waiting for a handout; they are turning to investing to build wealth on their own terms. The numbers reflect this shift, with 6 out of 10 Gen Z and Millennials now investing, 25% more than Gen X and Boomers.

By actively investing, they are forging a new path to financial independence and growing confident along the way. In fact investors who don’t yet own a home are nearly twice as likely as non-investors to feel they can afford one without an inheritance. 

Matt Leibowitz adds: “In today’s economy the goalposts are always shifting. Plans that worked in the past may fail today, and people are rightly questioning how to get ahead when the old rules no longer apply. Stake’s research shows that taking control of your finances through investing is more than just a path to financial stability; it’s a way to build resilience and optimism.”

Additional insights include:

• Confidence is a key barrier for women: Nearly a third (32%) of women who do not invest express a lack of confidence in making investment decisions, compared to 22% of men who do not invest. However, marriage often acts as a catalyst for women to begin investing, suggesting the process of building a shared financial future and setting mutual financial goals is a key motivator to take action.

• Younger Australians are more active in the share market: There are large generational differences in trading activity. More than half of Gen Zs and Millennials make up to 24 trades a year, while most Boomers (69%) make less than 3 trades a year. 

• Young Aussies see asset ownership as the key to getting ahead: Seven in ten Gen Zs and Millennials believe that owning assets and investments is more critical for financial advancement than career progression, compared to less than half of Boomers who hold this belief.

ENDS

Methodology Stake, in partnership with The Behavioural Architects, conducted a research study in May 2025. The research involved a nationally representative survey of 2,002 Australians aged 18+, including both investors and non-investors. The study aimed to understand the benefits of investing, along with the rational and emotional barriers to investing.

About Stake Stake is an investment platform that breaks barriers between ambition and financial progress. It was founded in Australia in 2017 and has since grown to over $6 billion in assets under administration by providing seamless access to the U.S. markets, CHESS-sponsored ASX trades, Stake Accumulate an income fund an income fund designed and managed to unlock consistent, attractive returns on your cash and Stake Super – an intuitive, hassle-free SMSF admin service and investing platform.