This study was conducted on the salaried Millennials (Gen Y) to find out the influence of social media on the investment behaviors and compares their patterns with Generation Z. Quantitative research approach was used to collect data from 126 respondents and analyzed with the help of SPSS, applying tools like correlation, ordinal regression, Mann–Whitney U, and Kruskal–Wallis tests. The findings show a significant relationship between social media usage, trust, and investment decisions, with increased social media engagement showing greater trust in financial advice. Gen Y respondents showed comparatively lesser trust in social media-based investment information, but Gen Z displayed more risk-averse behavior. The Mann–Whitney U test highlighted a generational difference in the trust of financial information received on social media between the two groups. The Kruskal–Wallis test confirmed that age and income levels significantly impact investment goals and at the same time mutual funds and retirement planning preferences varied across age groups. Strong positive correlations were observed between social media platforms and financial tools and this confirms that social media influences modern investments. These findings show that the growing role of social media is shaping financial decisions and highlight the need for credible online information and targeted financial literacy programs to empower younger generations in their investment journeys.