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September 16, 2021

Andrew Campbell 

Nowadays, the silent generation and baby boomers account for 70% of all household wealth in the United States. However, according to Nature and Bloom’s research, by 2030, Gen Z’s income is expected to rise over five times to $33 trillion, which is over 25% of global GDP, and surpassing millennials’ income by 2031. Based on a latest study of Bank of America Global Research, Gen Z would gain a windfall in the form of collective inheritance from the two eldest generations.

Investment is a way for Gen Z to gain wealth as well. 33% of high school students own their personal bank account and another 34% of them have a joint bank account with their parent, according to Next Gen Personal Finance’s study in 2019. Approximately 27 to 28% of Gen Z had some exposure to equities through holding stocks or retirement accounts in 2019, while only 18.7% millennials in the same age back in 2004 had some exposure to equities.

However, for the first truly digital-native generation, investing is also a tool for social change. Taking their squeezing a Wall Street short on GameStop’s stock as an example, Gen Z is the first generation using investing as an instrument of revolution.