Here’s where Gen Z are building their wealth.
The Royal Mint released a report whereby it was discovered that 80% of those in Gen Z are investing, approximately £200 a month. It is said that 16 – 25 year olds are choosing to invest in their futures and that by the next financial year the investments made by this generation will amount to £9.4 billion. These young people are typically those following financial influencers or FinFluencers, however, these tips often come without disclaimer and can sometimes falsely promote investments. Investing has also had an affect on lifestyle, in order to support their finances : 88% are cutting down on restaurant visits. On a similar note, 67% of young people say they are travelling less, while 39% say they drink less alcohol.
Is investing earlier better?