A study conducted by Northwestern Mutual has found that a third of Americans are planning to invest in high-risk, speculative assets as a method for financial planning. The study, which included responses from Jan. 5 to Jan. 21, found that 39 percent of respondents were currently investing or considering investing in cryptocurrency, sport betting/prediction markets, options or meme stocks. Most of these individuals are investing in volatile markets to account for lack of financial planning, according to the survey. However, only 32 percent of Gen Z respondents and 24 percent of millennials have already invested in sports betting or prediction markets. The survey also revealed that 52 percent of Americans place too much emphasis on building wealth or growing their assets without planning how to protect their assets and manage against risks.