Despite overspending, Gen Z is about to become 'richest generation.' Here's why

Because of the enormous wealth accumulated by the generation of "baby boomers" who are retired or are about to be retired, assets such as investments or real estate should be passed on to generation Z within 10 or 20 years.

Despite overspending, Gen Z is about to become 'richest generation'. Here's why

A study by Bank of America researchers finds that Gen Z will become the "largest and richest generation" within the next 10 years.

Despite overspending, Gen Z is about to become 'richest generation.' Here's why

Gen Z is about to become the richest generation alive, according to new research by the Bank of America Institute. “Between significant wealth and increased spending levels over the next 10 years, the consumption patterns of Gen Z will have a strong influence on the global economy,” the BofA Global Research team said. “In roughly the next five years, they will have globally amassed $36 trillion in income and that figure is expected to surge to $…

A recent report by Bank of America predicts that the Z generation (born between 1997 and 2012) will reach a historic milestone by 2035: it will be the richest and most numerous in the world. This unprecedented economic growth is driven by a set of unique factors that will transform not only their lives, but also the global economy. What drives the wealth of the Z generation? The main driver of this accumulation of wealth is the phenomenon known …

Do it yourself: Loving silver on my scalp

A friend recently remarked, “I don’t want to be young for the first time in my life”. He was alluding to the challenges Gen Z (born between 1997-2012) and Generation Alpha (born after 2012) children are likely to face in the coming years. I fully agree with him. The silver on my scalp gives me comfort that a relatively well lived life may end as comfortably for me, and many people my age. But young people in their 20s have no such comfort.The pe…

More than half of Generation Z struggles with high cost of living