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Gen Z's Surging Economic Power-What's Their Future Banking Look Like?
Manage episode 362864469 series 2985840
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Grandpa Bill continues today looking at our #Legacy, my Legacy-The #Gen. Z'ers. In recent episodes, I have revisited many hurdles for the next generation in life and business.
Todays Interactive Poll Questions are:
Is #Gen. Z Money Conscious?
Grandpa Bill today asks for your help and assistance by answering our interactive poll at my BH Sales Anchor Radio Podcast Message Board
Gen Z adults (born between 1997-2005) have grown up in a very different financial landscape than their predecessors. The past few decades have seen the rise of everything from social media and cryptocurrency and financial apps . Members of #Gen. Z stand out for being the first generation without a living memory of life before the Internet. How has having instant access to investing affected #Gen. Z’s approach to money?
Gen Zers are socking away 14% of their income for retirement, a higher share than older adults.
#Generation Z's economic power is the fastest-growing around the world, and investors, per many LARGE financial institutions advice, should start preparing for tectonic shifts in consumer preferences.
- Gen Z's earnings are set to hit $33 trillion by 2030 and account for more than a quarter of all global income. By 2031, the youngest generation will surpass millennials' spending power.
- Gen Z will have a harder time building wealth than millennials did through stocks and bonds.
- They can expect average annual returns of just 2% compared to 5% of past generations.
- Sustainable luxury, e-commerce, new media, and online-payment businesses are set to benefit from #Gen. Z's ascendance.
- #GenZ,#banking,#money,#currency,#marketing,#buying power,#influencers,#market trends,#business forecasting,#labor statistics,#gold,#silver,#precious metals,#wellness,#business,#business opportunity,#advocacy,#consumer advocacy,#coin clubs,#inflation,
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