219 National Financial Literacy Month - Day 12-Generational Financial Literacy & Crypto Investing

For some generations investing in cryptocurrency is the unknown, in others the older generations hold to tradition when it comes to investing thus stocks, bonds, mutual funds, and its a wrap.

Generation Z and Generation X invest in cryptocurrency and include it in their retirement strategy. All generational groups continue working to understand the basics of personal finance, thinking about retirement, and investing in crypto. Note that each generation learn differently. 

• 57% U.S. adults are invested, but just 1 in 3 say they have advanced investing knowledge.
• About half of the surveyed adults feel they have a deep understanding of consuming (managing spending and keeping a budget), paying taxes, and saving.
• Cryptocurrency and stocks are the most popular assets held by Gen Z, Millennial, and Gen X investors, but overall, many Americans (49%) have only a beginner-level understanding of digital currency.
• More than half of each generation expects to retire, and 28% of millennials expect to use cryptocurrency to financially support themselves in retirement, and some Gen X and Gen Z respondents said the same (20% and 17%, respectively).
• The internet is a go-to source for investing and financial education for the young generations: 45% of Gen Z use YouTube, and 30% turn to TikTok. Millennials prefer internet searches (47%), but also lean on YouTube (40%).

While about half of Americans feel they have a strong grasp of financial literacy basics, such as spending, budgeting, paying taxes, and saving, far fewer have the same level of understanding when it comes to investing and digital currency. 

Americans are least educated about digital currency and investing, however, every generation holds cryptocurrency in its portfolio. 

The following financial skills you need to learn today:

1. How to save for retirement
2. How to build or improve your credit score
3. How to reduce debt
4. How to avoid fees
5. how to plan for financial risk

In essence, no matter what generation you are in you are a part of your financial knowledge is essential to navigating life.  Investing in stocks, bonds, and mutual funds will remain a constant, however digital wallets are not only the future but today as well. Encourage your family, friends, and colleagues to listen to episode #219, it provides a good synopsis of generational investing and who invests in cryptocurrency and other virtual wallets.

Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG