May 30th, 2024, Kineree Shah
In our new 2024 US generational wealth trends report, we explore how different age groups perceive generational wealth. While the general population sees investing in property as the best way to build wealth, Gen Z believes starting their own business is the key. Among Gen Z, 34% think starting a business is the best path, whereas 39% of the general population prefers investing in property.
When asked about the possibility of earning generational wealth, 55% of Gen Z feel it is easier now compared to previous generations, while only 37% of the general population share this sentiment. This difference highlights the optimistic outlook of younger generations towards financial success. Additionally, Gen Z shows a unique approach to achieving wealth, with a significant focus on entrepreneurship over traditional investment methods.
The comprehensive YouGov report delves into these generational financial trends, offering insights into how various age groups handle their finances. It covers a range of topics, from risk-taking behaviors to the financial institutions each generation trusts. The report also examines how attitudes towards financial security and wealth-building strategies vary across generations.
Key highlights from the report:
- Younger generations are more optimistic about achieving generational wealth compared to older generations.
- There is a significant generational divide in preferred wealth-building strategies, with Gen Z favoring entrepreneurship.
- The report provides insights into the financial habits and preferences of different age groups.
- Emerging financial trends and innovations that could shape the future of wealth-building.
For more detailed insights, get the full report.