The definition of a modern portfolio is changing.

The story: More Americans believe long-term investing success now requires looking beyond traditional holdings, according to findings from Charles Schwab's 2025 Modern Wealth Survey.

Key numbers: Though stocks, mutual funds and bonds remain core holdings, two-thirds of Americans say they need to supplement traditional assets with new types of investments to further diversify and tailor their portfolios.

• Half also say investing today requires more short-term risk taking than in the past.
• 42% of those surveyed believe the classic 60/40 stock-bond portfolio ratio is outdated.
• 43% of investors say their trading activity has increased since they first started.
• 89% make trades at least annually, and nearly half (46%) do so monthly or quarterly.

On the other hand: Trading may be more active, but patience remains a virtue.

• 63% say today's market environment demands greater long-term discipline — and nearly seven in ten (68%) investors say they feel more patient letting investments grow compared to when they began.

An expert take: "Having a long-term perspective doesn't have to mean just buying and holding investments," says Jonathan Craig, Head of Retail Investing at Charles Schwab.

• "According to our survey — and based on what we see with our own clients — investors are more engaged than ever, actively trading and exploring new strategies in pursuit of their broader financial goals. New asset types are adding to this momentum by drawing a new generation of investors and creating more ways to diversify, a principle that has always been central to long-term investing success."

Looking ahead: That diversification now reaches further than just traditional holdings.

• Two in five Americans (41%) now see crypto as a good investment — 23% always believed in its potential and 18% have recently changed their minds.
• Among current crypto holders, two-thirds plan to increase their allocations over the next 20 years, even as investors and those on the sidelines acknowledge the risk.
• Nearly half of investors are interested in owning alternative assets, like private equity, hedge funds and venture capital, while a third is interested in event contracts.

Worth a mention: As modern portfolios evolve, so does the need for guidance.

• 57% of investors say professional guidance could help them navigate an increasingly complex landscape, a view shared across generations from 54% of Gen Z to nearly 60% of Boomers.

Okay, but: Even as more than half of those surveyed currently invest, barriers persist and many remain hesitant to enter the market.

• About 49% said they don't have enough money to get started.
• 30% of Americans who don't currently invest cite risk as a concern.
• 44% feel nervous or overwhelmed by the process.

The positive news: "There's never been a better time to be a retail investor," says Craig.

• "With greater access to high-quality platforms and tools, comprehensive educational resources, a wider range of products than ever before and 24/7 professional support, investors can diversify and personalize their portfolios to match their goals."

Explore the full report to see how your views stack up.