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☆ 50% of Gen Z wants to ditch corporate jobs and run their own businesses, according to new research
▼ + stars: | 2023-10-31 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

"What once seemed like the only path forward, getting a full-time job, has now been divided into so many," she says. "The idea of spearheading a career that I design and has all the elements I want is a strong source of motivation and empowerment that I think is unique for Gen Z compared to older generations." Instead, more young people are seeking balance and fulfillment outside of the confines of a 9-to-5: 50% of Gen Z aspires to become an entrepreneur or start their own business, according to a new report from Samsung and Morning Consult. Gen Z, being a generation that's "extremely online," Woo adds, quickly realized that "as soon as you start producing content that attracts a following, you can get paid and become a business." "I was scrolling TikTok after work one day and seeing all these successful content creators on the platform and I thought, 'Why not me?

Persons: Z, Ann Woo, Zers, Gen Z, Woo, Natalie, she's, it's Organizations: Samsung Electronics America, Samsung, YouTube Locations: Silicon, San Francisco

☆ Gen Z is lonely. Going back to the office may be the cure for some.
▼ + stars: | 2023-10-31 | by ( Aaron Mok | Lakshmi Varanasi | ) www.businessinsider.com time to read: +12 min

The solitude of remote work seemed to particularly hit Gen Z workers — who began their careers as workplaces went from in-person to virtual — hard. With companies asking — and in some cases mandating — their employees return to the office, Gen Z workers who are going in regularly have said they have a renewed sense of confidence in their jobs. Since Fitchett's employer started mandating employees go to the office, Fitchett said he finally feels a sense of ease at his job. Don't expect a full-scale return to the office quite yetThere's more that goes into a worker's preferences than loneliness, and Gen Z workers are mixed about returning to the office full time. For her — and many other Gen Z workers — the solution may come in some form of flexibility.

Persons: Ben Fitchett didn't, Fitchett, Ben Fitchett, Ben Fitchett Young, Aaron Terrazas, —, Cigna, Hubert Palan, Z, Covid —, Palan, Vivek Murthy, it's, Mansoor Soomro, Soomro, Gen, Juanita Garcia, Garcia, who've, Zers, Anita Pan —, Anita Pan, Pan, Ricky Yean, Zers —, Yean, Bianca Wu, Bianca Wu Bianca Wu, Wu, wouldn't Organizations: Company, Teesside University, Starbucks, Flow, Dell Locations: New Zealand, Los Angeles, New York, Washington , DC, Bay

☆ The death of downtowns
▼ + stars: | 2023-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the number of empty storefronts overwhelming downtowns isn't just a product of the post-pandemic world. When it comes to local downtowns, not all small businesses are created equally. A homebuilder executive breaks down the do's and don'ts that've helped her clients lower rates from 8% to 4.875%.

Persons: —, that's, Tyler, Insider's Adam Rogers, it's, Adam, Justin Sullivan, It's, Lucas Jackson, Elon Musk, Joel Saget, Sheldon Cooper, Getty Images Elon, X, Daniel Rizea, Haley Rosen, Marie Donoghue, Rosalyn Durant, don'ts that've, Heidi Klum's, Jayne Withers, Zers, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, New York Stock Exchange, Getty, Getty Images, Apple, Google, ESPN, NFL, NBA, Walmart, Workers, Fed, Pfizer, Samsung Locations: National, New York, AFP, New York City, San Diego, London

☆ AI is not just chatting with us. It's learning how to turn verbal communications into real-world insights.
▼ + stars: | 2023-10-30 | by ( Hazel Davis | ) www.businessinsider.com time to read: +6 min

New conversational AI tools are turning verbal communications into actionable insights for market research. With the advent of LLMs, increasingly sophisticated chatbots are relaying technical data in relatable, everyday speech. Avery is, in fact, a conversation bot made by market research firm Untold Insights, and is part of a new wave of transformative artificial-intelligence tools designed to turn verbal communications into actionable insights for business strategists. Avery not only processes and presents data but also personifies it, relaying data insights in a conversational Gen Z voice. "Generative AI cannot understand or manage technical data unless it is available in a unified business layer and given business meaning," Soto said.

Persons: —, Avery, Gen Zers, she'll, Avery isn't, Zers, Adelynne Chao, Steve McGovern, McGovern, Stratio, Oscar Méndez Soto, Ernesto Funes, Stratio BD, Soto Organizations: Business, Service, Santander, HSBC, BBVA Locations: relatable

☆ As the market enters correction territory, don't blame the American consumer
▼ + stars: | 2023-10-29 | by ( Tim Mullaney | ) www.cnbc.com time to read: +14 min

Amazon.com Inc | ReutersThe initial third-quarter report on gross domestic product showed consumer spending zooming higher by 4% percent a year, after inflation, the best in almost two years. How is this possible with interest rates on everything from credit cards to cars and homes soaring? But they were below expectations at electric-vehicle leader Tesla , which blamed high interest rates, and at Ford . "And as interest rates rise, the proportion of that monthly payment that is interest increases." At American Express , which saw U.S. consumer spending rise 9%, the mild surprise was the company's disclosure that young consumers are adding Amex cards faster than any other group.

Persons: Bill Ackman, CFRA, Sam Stovall, Ryan Marshall, Wells, Jackie Benson, Tesla, Elon Musk, GM, Mary Barra, Paul Jacobson, John Lawler, Musk, Brian Moynihan, Jeremy Barnum, Sachin Mehra, Zers, Guess they're, Stovall, chargeoffs, John Greene, Morgan Stanley, Ravi Shanker, Spirit, Sundaram, Ethan Allen, they've, Marc Bitzer, Arun Sundaram, Amanda Agati, there's Organizations: Amazon.com Inc, Delta Air Lines, United Airlines, Coldwell, Ford, General Motors, GM, United Auto Workers, UAW, Cox Automotive, Bank of America, JPMorgan Chase, MasterCard, American Express, Discover Financial Services, JetBlue, Whirlpool, Amazon, PNC, Federal, Asset Management Locations: Shakopee , Minnesota, U.S, Covid, PulteGroup, Vermont

☆ Educated Gen Zers in China are choosing not to work. It could be a problem for the US economy.
▼ + stars: | 2023-10-29 | by ( Ayelet Sheffey | Huileng Tan | ) www.businessinsider.com time to read: +8 min

Youth unemployment in China hit a record high of 21% in May. It's a problem not only for China's economy — it could hurt the US, as well. China's economy is on shaky ground as it emerges from very strict lockdown pandemic measures. That's compared to the US youth unemployment rate of 7.4% in May. "The stakes are high for correcting these imbalances, given how important the youth population is to China's economy," the note said.

Persons: There's, —, China —, it's, China's, China — Benn Steil, Steil, Victoria University of Wellington Christian Yao, Alfred Wu, National University of Singapore's Lee, Wu, Goldman Sachs, they're, it'll Organizations: Service, Trade, National Bureau of Statistics, Weibo, China, Council, Foreign Relations, Victoria University of Wellington, China Macroeconomy, New York Times, National University of Singapore's, National University of Singapore's Lee Kuan Yew, of Public, NBC News Locations: China, decouple, Japan, United States

☆ Be more energetic at work! Why it seems like your boss is suddenly prioritizing soft skills.
▼ + stars: | 2023-10-29 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementJames Neave, head of data science at Adzuna, compares soft skills to people skills. Selker said that because soft skills can be observed, they can be measured, even if somewhat subjectively. Measuring soft skills can then become more like evaluating hard skills. AdvertisementAdvertisement"It really is a shift in thinking then to say, 'Can we observe these soft skills?" The pandemic meant that many Gen Zers, as they started their careers, didn't get the face-to-face interactions at work that might have allowed them to further develop their soft skills.

Persons: —, we've, Carrie Fisher, Harry Met Sally, Norman Bacal, Bacal, James Neave, Neave, Greg Selker, Stanton Chase, Selker, Zers, didn't Organizations: Service, Management, LinkedIn, KPMG Locations: American, Adzuna

☆ Want to retire at 65 with $2 million? Here’s how much to save each month
▼ + stars: | 2023-10-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Young Americans have mixed feelings about their ability to reach their retirement savings goals. However, about half of both groups feel they're slightly or significantly behind where they should be, per the survey. When you start saving for retirement early, you give your funds more time to grow through the power of compounding interest. On average, Americans think they'll need over $1 million to retire comfortably, according to Bankrate. With that in mind, CNBC calculated how much you would need to set aside each month in order to retire with $2 million at 65, starting at ages 21, 25 and 30.

Persons: Zers Organizations: CNBC Locations: Northwestern

Gen Z wants to retire at 61 — years before other generations expect to leave the workforce. They're seeking professional financial advice from family and friends — and are even open to AI. Unlike the gloom and doom stories of Gen X, Millennials, and Boomers, Gen Z fully plans to retire … and do it earlier than everyone else, at the age of 61. Schwab surveyed 1,000 employed Americans participating in 401(k) plans in partnership with Logica Research, plus an additional 100 Gen Zers for statistical significance. The survey also found much of Gen Z is already thinking about retirement plans: 73% of Gen Z respondents want personalized investment advice and help choosing investments for their 401(k)s.And they're willing to let AI provide that help.

Persons: Gen Z, They're, —, Gen, …, Charles Schwab, Gen Zers, Schwab, Gen X, Zers, doesn't Organizations: Service, Boomers, Logica Research, Gen

☆ Insider Today: You should buy a house now
▼ + stars: | 2023-10-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementIn today's big story, we're looking at why it's a good time to buy a house. RichLegg/Getty ImagesIt's a pretty terrible time to buy a house these days, which is why it's a good time to buy a house. AdvertisementAdvertisementInsider's Jennifer Sor detailed why it's a good time to buy a house. Part of the issue is that mortgage rates won't magically drop overnight. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: OpenAI's Sam Altman, Jennifer Sor, Jacob Zinkula, they're, that's, Gen Zers, who's, it's, Doug Haynes, Haynes, Steve Cohen's Point72, Leon Cooperman isn't, Arantza Pena Popo, carmakers, EVs, Tyler Le, Satya Nadella, Mathias Döpfner, Axel Springer, Jensen Huang, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: FBI, RichLegg, Norias Research, Investments, Ameriprise, Insurance, Microsoft, Activision Blizzard, Nvidia, ZTE Corp, Philips, NBA Locations: West Palm Beach, Fla, Tokyo, Oklahoma City, New York City, San Diego, London, New York

☆ Gen Zers are 'increasingly drawn to simpler living.' Here's where they're moving.
▼ + stars: | 2023-10-23 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +2 min

Gen Z is looking beyond more crowded states for places where there's elbow room and affordability. Older generations aren't selling homes, making it hard for Gen Z to get into more popular markets. Emilia Mann, a senior analyst at StorageCafe, said that Gen Z doesn't have the same location preferences as older generations. "Gen Zers are increasingly drawn to simpler living in their housing choices," Mann told Insider via email. "We see the Gen Zers be more movement oriented, especially in long distances," Ressler said.

Persons: Z, —, Emilia Mann, Zers, Mann, Gen X, Doug Ressler, Gen Z, Ressler, StorageCafe, Gen Organizations: Service, Survey Locations: Midwest, DC, Washington, Illinois, Montana, Idaho, Kansas, Nebraska, what's, RentCafe

☆ There's never been a better time to be a DINK
▼ + stars: | 2023-10-22 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

One variant of the DINK is the DINKWAD , double income couples without kids — but with a dog. AdvertisementAdvertisement"Some of those savings might ripple into an accumulation and increase in net worth," Heggeness said. What's more, the cost of raising one child to their high school years is estimated to be $310,605 — the bulk of a median DINK's net worth. For instance, single Americans with children have seen their net worth more than double over the last decade, and their net worth is outpacing younger, childless singles. Now, that rise in net worth might be due to the changing dynamics of how single parents are arriving at their destination.

Persons: DINK, —, childlessness, they're, Misty Heggeness, Nobody, weren't, Heggeness, JP Morgan, Nicole Valdez, it's, Jasmen Rogers Organizations: Service, Federal Reserve's Survey, Consumer Finances, University of Kansas, Survey

☆ Hey managers, we should be answering Gen Z's questions, not just complaining
▼ + stars: | 2023-10-21 | by ( Tim Paradis | Diamond Naga Siu | ) www.businessinsider.com time to read: +8 min

It's easy for older workers to complain about Gen Zers as being lazy or entitled. Yet some Gen Z workers are questioning norms that need to be reconsidered, experts tell Insider. AdvertisementAdvertisementWe've all heard the complaints about Gen Z and how they're rattling older managers . People older than Gen Z created the social platforms some Gen Zers are sounding off on. 1 thing she hears from older workers is that Gen Zers ask too many questions.

Persons: Gen Zers, —, Gen, Gen Z, Zers, TikTok, Kenneth Matos, Matos, who's, Xer, " Matos, Rebecca Fagan, she's, Fagan, Maia Ervin, Ervin, it's, millennials, they're, Z Organizations: Service, Boomers, KPMG, Gen, JUV Consulting Locations: Zaria

☆ More people are missing car payments in another ominous sign for the economy
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

A record number of subprime borrowers are behind on auto loan payments by more than 60 days. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg. More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. AdvertisementAdvertisementFor subprime borrowers, rates for new cars average 11.5% and 18.5% for used autos, according to Experian.

Persons: —, Margaret Rowe, Zers Organizations: Fitch, Bloomberg, Service, CNN, Fed, Economic, Cox Automotive Locations: Edmunds

☆ The average American's net worth is at an all-time high. Here's how it breaks down by generation.
▼ + stars: | 2023-10-19 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

This was more than double the next-largest increase in net worth since 1989, when the Fed began the survey. Median net worth — which measures household assets like houses and vehicles, minus debts like mortgages and student loans — surged to $192,000 when accounting for inflation. While this group, comprised of younger millennials and Gen Zers, has a much smaller net worth than any other age group, median net worth grew from $16,100 to $39,000 during the three-year period. So-called DINKs, or couples with "double income, no kids," also saw huge net worth increases, according to the Fed's survey. Americans in the 55 to 64 age group saw median net worth gains of 48%, while those between the ages of 65 and 74 had a 33% rise in median net worth.

Persons: —, millennials, Gen Zers, Mark Zandi, Zandi Organizations: Service, Federal Reserve's Survey, Consumer Finances, Fed, CNBC

☆ Millennials, Gen Z Mistakenly Bet on Inheritance From Boomer Parents
▼ + stars: | 2023-10-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +14 min

When she died, Grandma Sue left the most common form of inheritance, called an accidental bequest, which is simply the money left over when someone dies. The New York Times reported on a coming inheritance wealth boom in 2023, 2019, 2014, 2008, and 1999. Even for families with incomes in the 51% to 90% range of earners, the average inheritance was $46,000 — hardly life-changing money. Researchers have been talking about the coming Great Wealth Transfer for at least a quarter of a century. But the reality is that all the wealth boomers are sitting on probably won't end up fixing our collective financial problems.

Persons: Grandma Sue, Grandma Sue's, —, Xers, Gen Zers, Xer, shouldn't, Edward Wolff of, Maury Gittleman, Wolff, Gittleman, Michael Bloomberg, Warren Buffett, Larry Ellison, Bill Gates, Isabel Sawhill, It's, Penn, there's, they're, Bank of America cardholders, Joseph Smith, haven't, boomer, Ann Logue Organizations: Social Security, Medicaid, Boomers, Federal Reserve, New York Times, Edward Wolff of New York University, US Bureau of Labor Statistics, Federal, Brookings Institution, University of Pennsylvania, Penn, Medicare, Family Foundation, Bank of America, Consumer, Department of, Northwestern Mutual, IRS Locations: Northwestern, Chicago

☆ Meet the typical at-work ChatGPT user: A millennial secretly submitting writing tasks who's a bit worried AI will replace them
▼ + stars: | 2023-10-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Workers using ChatGPT are likely to be a millennial, college educated, and seeking help with writing tasks. The typical worker using ChatGPT is using it for writing tasksWorkers mentioned in story not pictured. The typical worker using ChatGPT is doing so in secretA remote worker. In the subsequent months, it's likely that many workers using ChatGPT have been forced to continue doing so at least partially in secret. The typical worker using ChatGPT is a bit worried the tech could take their job somedayApplicants line up at a job fair at the Ocean Casino Resort in Atlantic City N.J., on April 11, 2022.

Persons: —, ChatGPT, they've, AJ Eckstein, Lais Silva, she'd, Gen Zers —, they'd, James Crisp, Tricia LaRue, It's, hadn't, it's, they're, Goldman Sachs Organizations: Workers, Service, Fortune, Google, realtors, Getty, Pew Research, MIT, Reuters, Deloitte, North American, Associated, Gallup Locations: Jersey, Missouri, Atlantic City

☆ Americans are facing a retirement 'financial vortex,' says Goldman Sachs. Not having a plan makes it worse.
▼ + stars: | 2023-10-18 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Two new surveys show most Americans feel like they are behind on their retirement savings. Competing forces of the "financial vortex" and lack of financial plans are hurting retirement hopes. Goldman Sachs calls it a "financial vortex," and says simply having a plan can help Americans find their way through. While most have a dim outlook, the results varied by age and whether or not they had a financial plan. To avoid falling behind, Goldman Sachs said the two biggest factors that can help people reach their retirement goals are increasing financial literacy and having a personalized financial plan.

Persons: —, Goldman Sachs, Bankrate, Gen Xers, boomers, Gen Zers, Zers, Hinterhaus, Drazen Zigic Organizations: Service, Goldman, Getty Locations: millennials

☆ Meet the typical gig driver: A millennial earning up to $40 per hour who doesn't have another job and depends on your tips
▼ + stars: | 2023-10-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Gig drivers are likely to be dependent on the job for their main income, and need your tips. Omar FordIf the economy takes a turn for the worse and unemployment rises, the number of gig drivers could increase even further. The typical gig driver earns between $20 and $40 an hourSergio Avedian. The typical Uber driver earns $35 per active — or utilized — hour, the company said in February. In September, four ride-hailing drivers told Insider that they earn between $22 to $40 an hour after expenses.

Persons: —, DoorDash, Lyft, Omar Ford, Uber, he'd, Robert Alexander, Gen Zers —, Sergio Avedian, Guy, doesn't, New York City, they've, Nathaniel Hudson, Hartman Nathaniel Hudson, Hartman, Jeff Hoenig, Avedian Organizations: Service, Morning, Pew, New York Daily News, Tribune, Getty, Bank of America, The New York Times Locations: Los Angeles, New York, New York City Ribeiro, New, South Carolina, Portland

☆ 48% of Gen Zers will do their holiday shopping on TikTok, Instagram this year—they trust the 'wisdom of their friends,' expert says
▼ + stars: | 2023-10-17 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

Americans between the ages of 18 and 29, a majority of which are Gen Z, have already gotten a jump on their holiday shopping, according to a recent Shopify-Gallup Survey. And almost half, 48%, say they will do at least some of their year-end buying on social media platforms like TikTok or Instagram. For brands attempting to capture the Gen Z customer, a compelling social media presence is key. About 86% of Gen Z shoppers say social media sways their buying decisions, according to a report by ICSC. For Gen Z, a product is cool because the right person — usually one who came across their TikTok feed — has it.

Persons: Savannah Wei Shi, Shi Organizations: Gallup Survey, ICSC, Shoppers, Santa Clara University Locations: Instagram, Young, Savannah

☆ The majority of Americans think they're better off financially than their parents were—especially Gen Z
▼ + stars: | 2023-10-17 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Despite this, a slight majority of adults say they're doing better financially than their parents were at their age, according to a recent LendingTree study . Just over half — 51% — of adults say they're in a better financial position than their parents were at their age. The more money they make, the more likely people are to think they're better off than their parents, LendingTree found. Among households earning $100,000 a year or more, 79% say they're doing better than their parents. Interestingly, though, adults who have their own children are more likely to say they're doing better financially than their parents were at their age.

Persons: it's, LendingTree, Gen Zers, they're, Gen, Millennials, flack, X, Gen Xers Organizations: Pew Research, National Institute on Retirement, CNBC

☆ 53% of Gen Z see high cost of living as a barrier to financial success. They're 'buckling down,' expert says
▼ + stars: | 2023-10-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Gen Z faces unique financial challenges compared to older generations. watch nowHigh inflation — and affordability concerns among Gen Zers — extend beyond U.S. borders. Yet, they show less confidence when it comes to saving for retirement or investing in the stock market, the results found. Experts say these three tips can help members of Gen Z learn to manage their money wisely. Make saving a habitUte Grabowsky | Photothek | Getty ImagesMore than half of Gen Z, 56%, do not have enough emergency savings to cover three months' worth of expenses, Bank of America's survey found.

Persons: Martin, Gen Zers, Gen, Gen Z, Douglas Boneparth, Boneparth, It's, it's, Barkley, Young, Roth Organizations: College, Deloitte, Bank of, Bone, CNBC, Experts, Photothek, Getty Locations: U.S, New York

☆ Gen Z is shopping less and eating at home more as the woes of inflation set in, BofA survey finds
▼ + stars: | 2023-10-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Gen Z is cutting back on their spending for the next year, a study reveals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . About 53% of Gen Z cite a high cost of living as a barrier to their financial success. The holidays are approaching, and it's unclear if Gen Z will stick to their financial saving plans.

Persons: —, Gen, they're Organizations: Service, Bank of America, US Bureau of Labor Statistics, of America

☆ The Birkenstock brothers are worth $3.4 billion, even after the shoemaker's shares tanked at its IPO
▼ + stars: | 2023-10-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Two heirs of Birkenstock are now worth $3.4 billion after the company's IPO, Bloomberg reported. Birkenstock listed in New York on Wednesday, but shares opened at 11% below their offer price. AdvertisementAdvertisementTwo of the heirs of German sandal maker Birkenstock are now worth a combined $3.4 billion after the company went public, Bloomberg reported. The nearly 250-year-old company listed on the New York Stock Exchange via an IPO, trading under the ticker "BIRK" and pushing up the fortunes of Alex and Christian Birkenstock. The brothers netted more than €3 billion ($3.2 billion) from that transaction, Bloomberg reported.

Persons: Birkenstock, —, Alex, Christian Birkenstock, Christian, Stephan, Karl Birkenstock, Alex Birkenstock, Bernard, Alexandre Arnault, Charles Dolan, Kendall Jenner, Barbie, boomers, Xers, Gen Zers, Greta Gerwig's, Emma Chamberlain Organizations: Bloomberg, Service, New York Stock Exchange, Warner Bros Locations: New York, Germany, Americas, Europe ., Boston, Barbieland

☆ Forget Gen Zers and Taylor Swift concerts. It's boomers who are flashing their dollars.
▼ + stars: | 2023-10-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

The hope of avoiding a recession in the US heated up this year despite interest rates skyrocketing over the past 18 months. They also have more of a buffer than from the economic impact of inflation and higher interest rates than younger generations. AdvertisementAdvertisementWhile high interest rates and soaring prices for homes in recent years are terrible for young buyers, they are increasing the wealth of older Americans. Lance McMillan/Toronto Star via Getty ImagesMeanwhile, higher rates are helping older Americans grow their wealth in other ways. So older Americans who, in the past, would have been forced to sacrifice higher returns for safer investments can now get both.

Persons: boomers, —, Taylor Swift, Tim Robberts, Ed Yardeni, Yardeni, they'll, they've, Lance McMillan, Neil Howe, demographer, Howe Organizations: Boomers, Service, Census Bureau, Labor, Images, Yardeni Research, New, Toronto Star, Getty, Treasury Locations: New York

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