Zaid Admani is a millennial and a civil engineer, and he’s trying to get young people to think about money — and their futures.
Members of Generation Z, who were born in the years 1997 to 2012, may be too far removed from retirement to think about saving for it, but financial institutions are attempting to engage with them all the same — in some cases, by working with influencers on TikTok to talk about investing. Admani isn’t the only one talking about financial news and tips on TikTok. Gil Oliveira posted a video on TikTok explaining how someone under 25 could retire a millionaire with a Roth IRA. TikTok creator Austin Hankwitz posted a similar video for people between the ages of 18 and 25 years old. Adi Adara broke down the benefits of traditional and Roth 401 plans in one video.
Fidelity Investments, a multinational financial services company, created Fidelity Spire, an app to help users plan, save and invest with short- and long-term goals in mind. In the first quarter of 2021, Fidelity’s new retail investors 35 years old or younger reached 1.6 million — a 220% increase compared to the same quarter the prior year.
Financial institutions are watching what this newest class of investors are currently doing or want. For example, younger generations want to easily navigate through a digital interface, but they also want access to invest in numerous options for their portfolios, said Daniel Demian, a financial adviser at Albert Investments, a financial planning app. This includes the ability to invest in newer, emerging asset classes like cryptocurrency.
nice
nice
Also the Interest rate makes saving pointless.
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horrible
lolz