By AFPRelaxnews | Jun 24, 2022
While Gen Z's standard of living has deteriorated in recent years, they are more optimistic than their parents about their future wealth
[CAPTION]More than 70% of US Gen Zers believe they will become wealthy one day. More than 70% of US Gen Zers believe they will become wealthy one day.
Image: Krakenimages.com / Shutterstock [/CAPTION]
Members of Generation Z have a more relaxed relationship with their finances. While their standard of living has deteriorated in recent years, they are more optimistic than their parents about their future wealth. Many are convinced that they will become rich one day, according to a new American survey.
The MagnifyMoney website surveyed more than 2,000 US consumers about their relationship with money. Unlike their parents, today's young adults are no longer ashamed to say they want to make a lot of money. They are also more optimistic than their elders about their ability to build up their own personal fortune in the years ahead.
_RSS_More than 70% of Gen Zers—those born between 1997 and 2010—believe they will be wealthy one day. Only 44% of Americans of all generations say the same. The economic climate and inflation fueled by the war in Ukraine are challenging young adults' lofty aspirations. But it takes more than that to undermine their financial optimism: 18% of Gen Zers believe that they are already wealthy, compared to 7% of Baby Boomers.
But what do they really mean by "wealthy"? The majority of Americans (55%) feel they are wealthy when they live a comfortable life, without having to worry about finances. Only 27% say they feel wealthy when they own real estate. This feeling is less prevalent among Generation Zers (19%).