Why Many Gen Z Investors Are Coming Up Short
On this episode of Bullish with Sonali Basak, we explore how a decline in financial literacy may be doing serious damage.
Mellody Hobson, left, on Bullish with Sonali Basak
Kyla Scanlon calls it “financial nihilism.” The financial influencer has built a career dissecting complex economic topics for hundreds of thousands of online followers. She says a get-rich-quick attitude is pushing more young investors to trade quickly in and out of stocks, perhaps at the expense of building wealth for the long term.
“For this generation, they are very disillusioned. They’re very mad, they’re extremely anxious and they’re extremely distrustful,” she says on this episode of the Bloomberg Originals series Bullish. As for the idea of saving for retirement or limiting credit card debt? Scanlon says many in the generation feel "none of this actually matters.”