Gen Z is Financially RUINED ..... Here's WHY

Generation Z has been through some of the toughest financial times in U.S. history. From Coronavirus, rampant inflation and high interest rates to insane college tuition prices and skyrocketing housing market. This young generation has their work cut out for them if they want any chance of discovering "The American Dream". Watch this video to see what exactly is going on with Gen Z, and what you can do about it.

📽️View our previous videos (How To Make 2024 Great):

💵Get a free stock with Robinhood:

Thank You For Watching!
Have a great day
#genz #genzfinance #financialfreedom

[flashguy]

Bro this hits hard. I make more than the median income and I’m still struggling to buy a house

[richardlee]

This is brilliant content. As a Gen X'er born in 1967, our "forgotten" generation struggled financially in part because the Boomers had the good jobs. We are doing worse than many Millennials and Gen Z'ers. We were called "slackers, " too. Your advice is applicable to all generations, not just Gen. Z'ers.

[RCRoads]

It's not just the cost of a home it's everything. Even utilities and food are ridiculous. It used to be that some of us went straight to work right out of high school and actually made good money in construction or the manufacturing sector. Work a few years and gain skills that could land even better positions. Work hard and become a supervisor or plant manager and the companies would pay for school. I can remember making $14 per hour back in 1980 as an apprentice electrician. In todays wages that would probably equate to over $100 per hour considering ramped inflation. It's tough for anyone now days. Most of the construction and heavy labor jobs are filled by migrants and they work hard and don't complain so that's another factor to consider. Full time maintenance workers are a thing of the past as companies deploy risk management and outsource everything to the lowest bidder. I feel your pain.

[jeffreyprice]

Thank you for highlighting that government guaranteed student loans causing tuition inflation.

[mauikid]

Just wait til automation/AI kicks in. Better make sure your "career" won't be outsourced

[chiplangowski]

The "student loan crisis" has been at the front of the news since at least the mid-90s. That means that people have been talking about the cost of college, and the value of a college degree and the importance of choosing the right one since before a Gen-Zer was even born. Anyone that took out huge loans for a degree that didn't lead to a good-paying job has nobody to blame but themselves.

And the biggest factor in housing costs is population growth. The US population has grown by more than 60 million people since 2000. More people means more demand for housing. That naturally leads to higher prices, especially in the popular cities that everyone wants to live in.

[turbotoommyguns]

Well said. Gen Z needs more voices to speak up about these issues. Get trained in a needed profession. Everyone has to start somewhere. Good luck to you all from a Gen Xer.

[Cheeky_Bandit]

Gen-Z is 1994-2012. The oldest Gen-Z just turned 30.

Generations are 17-18 years long. Don't know what makes people think Gen-Z is after 1996 when the historical event they are based from is the fall of the Soviet Union in 1992 and the consolidation of Western powers under NATO in 1994.

[kyleb]

Become a plumber or find a trade. Sometimes theres weeks I make 2200 and im 25.

[libertarian]

Not everyone becomes a homeowner. Most who do own homes have two (or more) incomes. The current "high" mortgage interest rates are only "high" compared to the historically low rates we had a few years ago. The current rate for a 30-yr fixed loan is just about at the historical average.

[pertainedorangeman]

In many parts of the world multiple generating live in a single house. America was the exception. It'll be interesting to see if we go down that road.

[fsm]

1987 i was 27 the rates were 10 1/2 percent, house price was 175 k i quess equivalent to 300 k today, every generation had thier issues

[syscruncher]

“Number 3” is the best advice that I have come across.

There is no realistic value on social media for 99.9% of users..it’s just a mechanism to make money for someone else.

[jonathanleasure]

I disagree on the interest rate point, just the raw price of the home will always be the thing that matters most. People cant buy houses because the price is too high, simple as that. Interests rates aren't helping, but the price is the main reason.

[supremebeing]

Trades people! I'm 25 and finished my apprenticeship a couple years ago, joined the IBEW as an electrician and the last year two years I've made over 100k. It's a chronically under-considered career path in our generation, school is dirt cheap compared to universities and usually only a few months a year and you spend the rest of the time working getting paid! Do yourself a solid and if you like working with your hands or don't want to sit in an office/cubicle consider it.

[CalBYappin]

Great video good to see another Zoomer with a good head on their shoulders. I think there are many facades of success in America like graduating from college, like you said if you don’t know the ROI on your college to get a degree because others are doing that is not a good thing. Another thing is owning a home, I saw another comment talking about the hidden cost of owning a home. Subbed and going to watch the rest of your videos.

[MB-wqcp]

Most of these Gen Z voted for Biden, remember that.

[tigerscott]

Working, studying from home and running a side hustle from home is the future...

How many people are really prepared for this?

How many people have soft skills like dealing with all types of people?

Not many people know how to set up and use Linux either - this is the future...

[BelleDividends]

In Belgium, there are systems by which you can keep the same mortgage when you sell a house, as long as you buy a new house in its place.

[juanzolatincrypto]

I understand what you’re saying about the sub 3% interest rates but that just wasn’t reality either an economy can’t live off free money. Typically interest rates always Hovered between 6% and 8% for a home loan mortgage. The problem is exploding property prices that’s the real problem not interest rates.