ilmscore | RANT: Why Gen Z Is Financially Screwed

RANT: Why Gen Z Is Financially Screwed

Predictions from this Video

Total: 12
Correct: 0
Incorrect: 0
Pending: 12
Unrated: 0
Prediction
Topic
Status
Almost 40% of Gen Z and Millennials prioritize summer travel over financial stability.
"nearly 40% of gen Z and Millennials say they'll prioritize summer travel over their finances"
Generational Spending Habits
Pending
A significant portion of Millennials (47%) and Gen Z (42%) are willing to incur debt for summer travel.
"47% of Millennials were willing to take on debt to fund summer travel and gen Z trails close behind with 42%"
Generational Debt
Pending
One-third of Gen Z and Millennials report feeling financially unstable.
"a third of gen Z and Millennials say they don't feel financially stable right now"
Generational Financial Stability
Pending
Over a third of young people are willing to postpone financial goals for immediate summer enjoyment.
"more than a third say they're willing to quote put their financial goals on hold in order to have a fun summer"
Generational Financial Goals
Pending
The economy is currently experiencing a slowdown.
"especially in a time where we're already seeing the economy slow down"
Economic Slowdown
Pending
A 'decade of sacrifice' strategy involves 10 years of reduced spending and increased earning to aggressively invest.
"the decade of sacrifice is you put in 10 years spending less earning more so you can invest like crazy"
Personal Finance Strategy
Pending
Stocks, real estate, and businesses have historically been the most effective wealth-building assets over the past century.
"stocks real estate and business have built more wealth than anything else in the last century"
Investment Vehicles
Pending
Income can be generated from investments in the stock market (dividends) and real estate (rental income).
"you can use the stock market and real estate to create income in the stock market you can invest for dividends in real estate you can invest for rental income"
Investment Income Strategy
Pending
Investments may take up to 10 years to generate significant income, with gradual increases in the intervening years.
"these Investments will make you next to nothing in the first year and the second year and the third year year four you might start to make a little bit of money year five a little bit of money year six a little bit of money year seven a little bit more money year eight a little bit more money year nine a little bit more money the year 10 you might start to see a significant amount of income starting to come in"
Investment Growth Timeline
Pending
Financial freedom is achieved when one can live off investment income, escaping the 'rat race' of needing to work for pay.
"if you can do that you are free because the average person is stuck they're stuck in what's called this Rat Race because you have to go to work to get paid"
Financial Freedom
Pending
Investments can provide for family members for generations after the owner's death.
"even if you die or when you die these investments will still be there they can keep paying your family your kids your spouse for Generations"
Generational Wealth Transfer
Pending
401(k)s are the most commonly used investment vehicle in the United States.
"401ks are the most popular investment vehicle in the United States"
401(k) Popularity
Pending