As the years passed, the generation Z developed a new way of looking at money and consumption. Despite many people being left without jobs and living in poverty as a result of the pandemic, nearly three-quarters of Gen Z still have the mindset that they will one day be rich. But why does this happen?
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How Gen Z handles money
If we agree that the social configuration of each generation affects the way its members see the world, so it stands to reason that the Zs will approach the issue of money differently than generations previous. Rather than creating a savings account or setting aside money for retirement, Gen Z is focused on investing their money in ways that provide immediate earnings.
For example, most Gen Xers and even older Millennials saw investing in home ownership as a good way to use their money. However, the majority of Gen Z are using real estate to accumulate wealth in other ways.
This includes buying rental properties as well as more contemporary ideas such as real estate investment trusts and fraternal real estate investing. These modalities allow you to invest as much as possible directly in companies or properties that benefit from real estate growth.
Investments to generate future wealth
Generation Z is very excited about the idea of investing, but only for retirement. Instead, more than half of all Zs have funds invested in some form of business. These investments range from mutual funds to exchange-traded funds (ETFs), cryptocurrencies and non-operating tokens (NFTs). Regardless of your financial status or gender identity, this has been happening.
It is likely that these dramatic shifts in investment strategy are at least slightly influencing Gen Z's overall perception of future wealth. They can observe the long-term effects of their current decisions on where to invest their money.
As a result, it is likely that these dramatic shifts in investment strategy are at least somewhat influencing Gen Z's overall perception of future wealth. They can observe the long-term effects of their current decisions on where to invest their money.
