As seasoned investors know, one of the best ways to retire rich is to start saving—and investing—early. But how should that message be communicated to actual young people? For Generation Z investors, it’s TikTok.
With Gen Z favoring TikTok and YouTube over Google GOOG, +2.16% for searches, it becomes more challenging to attract young investors who are constantly bombarded with digital content.
Johnson said Gen Z has greater uncertainty that Social Security will be there for them. That means they may need to start saving on their own earlier and become savvier about investing. Gen Z also is starting to invest at a time of economic uncertainty and rising inflation, making their financial beginnings more turbulent.
Yet only 7.7% of Gen Z members ages 15 to 23 owned a retirement account as of 2020, compared with 49.5% of millennials ages 24 to 39, according to the U.S. Census Bureau. Nearly 18% of millennials owned retirement accounts when they were ages 15 to 31. The survey found nearly 40% of Gen Z investors get investing insights from YouTube, and another one in four turn to TikTok and Instagram. But 47% of millennial investors favor internet searches.
“We know many of our young investors are on social platforms like TikTok, Instagram and Reddit. This is a generation that’s craving financial content and having conversations on social platforms,” said Kelly Lannan, Fidelity’s senior vice president of emerging customers. Fidelity found in a recent survey that 41% of Gen Z turn to social media influencers to educate themselves on investing—more than other generations such as Millennials or Gen X. As a result, Fidelity works with a handful of influencers on TikTok, such as @chandlerisaac, @olivialmarcus, @nicktalksmoney, @faaresq and @calltoleap, to tap into their already amassed audiences and share its financial expertise.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Target Sex-Trafficking Hoax Is Once Again Going Viral On TikTokIt's another example of a trend all too common on TikTok: people posting videos about trafficking schemes at big-box stores, whether it stems from a sense of moral urgency or a desire for clout.
Read more »
WATCH: SA TikTok star ‘Texas Bushman’ pranks KSAT crew, shares story behind viral videosJoe Jones, 33, is also known as the “Texas Bushman.” He has more than 2.1 million followers on TikTok and his pranks have been liked by 27.6 million people. He’s also been seen on YouTube and other social media platforms.
Read more »
9 TikTok Skinfluencers You Can Actually TrustGlowing skin and a 10-step routine are great, but credentials are better.
Read more »
‘Dancing with the Stars’ 2022 cast includes TikTok stars, drag queen, ‘Jersey Shore’ alumAlfonso Ribeiro and Tyra Banks are set to host Season 31 of the reality TV competition, which debuts Sept. 19 on Disney+.
Read more »
Does Photo Show 9/11 Victims' Cars in NY Giants Commuter Lot?✅ True. The old picture, which was a screenshot from a video, really does show cars in a commuter lot at Giants Stadium that were owned by victims of the 9/11 terrorist attacks.
Read more »
Silicon Valley Is Obsessed With Its Evil Twin, TikTokPlus: Reminiscing on Steve Jobs, a question for his loved ones, and a meltdown on the west coast.
Read more »