Economic commentator Kyla Scanlon is noticing a worrying trend in the investment prospects of younger generations.
“It’s a dichotomous world,” she told CNBC.ETF margin” this week.
Scanlon, 26, who became famous for his social media videos about markets and the economy, explained why some members of Generation Z aggressively save for milestones. as important as retirement, while others take a much looser approach.
“You have people who are maxing out their 401(k),” she said. They are doing everything they can to plan for retirement.” “But you have the other side, which is an element of financial nihilism, where people don’t want to save for retirement. In general, they don’t want to save money because they don’t believe the future is there.” .”
Scanlon is aiming to heal Generation Z’s divided financial views with her new book, “In This Economy? How Money and Markets Really Work.”
“Financial education is always an uphill battle, just because money is such a personal subject,” she said. But it’s important that we give people the tools they need to start somewhere.”
She uses the housing market as a prime example of how young people are falling behind. According to a recent report from the World Health Organization, Gen Z will account for only 3% of all homebuyers by 2023. National Association of Realtors — a statistical Scanlon property for higher interest rates.
“The younger generation definitely wants it [homeownership], because there are so many financial benefits to owning equity,” she said. “People are just trying to figure out how to do it financially right now, looking at mortgage rates in Where, consider where house prices are. It’s hard.”
