As Generation Z enters the workforce and joins the financial realm, they have access to the tools and skills acquired by previous generations and the opportunity to avoid the financial mistakes other generations made. Gen Z is primarily composed of those born between the late 1990s and the early 2010s. This generation follows millennials and they are entering the financial sphere with very different money mindsets and investment strategies than any other generation.
Wealthy Millennials Aren’t Banking on Stocks: Here’s What They’re Investing In
How To: Protect Your Financial Future With Gold and Silver
Find Out: How Much Americans Have in Their Savings Accounts in 2023
The first generation to be fully digitally savvy, Gen Z is more prone to using electronic money apps and social media sites, such as TikTok, for their financial needs. Instead of reading about money advice, this generation is image-driven and obtains most of their financial news through TikTok and short video clips online.
While Gen Z may use different approaches when it comes to finances, they have all the tools and expertise necessary to make the smartest investment and financial choices this year. Let’s take a look at the top five money steps this generation should consider making in 2023.
Start Saving for Retirement
A critical investment every Gen Zer should make in 2022 is starting to put aside money for retirement. For those new to the investing scene, a Roth IRA is a…
