The topic of millennials’ economy will soon become an old news as gen Z will take over the media attention. Among issues that previously are popular among millennials, investment will predictably be a challenging issue as well for gen Z.
In millennials’ cases, older generations tend to ridicule them of being incapable of understanding the concept of economy and investment. Accordingly, many even blame them for killing industries just because they are ‘poor.’
Considering what has happened, similar things might come to gen Z as well. Previous generations might also ridicule them for not ‘having good knowledge pertaining to Economics.’
However, does gen Z really possess inadequate amount of knowledge on the importance of economy, more specifically investment? Studies report that gen Z actually does not really know whether they have invested in something or possessed savings.
That being said, it does not directly justify that they do not have the understanding. Perhaps, they are similar to millennials back then, in which they knew it and its importance, yet they could not afford it.
Apart from which is truly true, this has become homework for everyone, not only gen Z, to educate and prepare them regarding the issue.
Also Read: Will Millennials Investment Save Their Future?
Gen Z, Investment, and Sustainability
Gen Z grows up in an arguably different world than the rest of the generations. Accordingly, the advancement of digital technology has shifted gen z’s life to a rather advanced lifestyle.
Taking that into consideration, the old, conventional style to market investment products and other form of financial services will not work. The approach should be in line with the things that gen Z can relate, technology.
While the great importance of investment to sustain long-term personal finance is widely known, assumption can also suggest that gen Z actually understands its essence. However, today might not be the time for them to pursue it.
Reasons might vary. Some gen Z are barely entering 20s in their life, signifying that they might still struggle to cope with their very own basic finance. When gen Z becomes more financially independent, it might be the time when they consider investing.
Until that time, it is the homework of previous generations to educate them. Also, in educating gen Z, the style and the approach should be relatable to them.
Also Read: Boomer to Zoomer: Generation Financial Habit