Not Your Parents’ Mutual Funds: How Gen Z Is Investing

Why you should worry about the next crypto crash
July 23, 2021
Retire with Money
So much for babysitting or busing tables. Today’s young adults are using the internet to make money, and not chump change either. Consider a 20-year-old college student in today’s featured story, who “has built her emergency fund with money she makes tutoring high school students virtually as well as a portfolio of digital collectibles (NFTs). She covers her everyday expenses with the earnings from her YouTube channel.” Get this: she makes $13,000 per post! The digital natives of Gen Z have rewritten the rules of personal finance. They’re teaching one another investing over TikTok. At its best, social media builds community and demystifies complicated topics. At its worst, it spews misinformation. Share today’s featured story with the young people in your life.

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Timely Retirement News, Insights, And Advice

“Once you get embedded in the financial system there are bigger problems.”

Retire With Money Community News

Please welcome our reader of the week! Ann Posont, 62, is retired from a career as a nuclear medicine technologist in the health care industry. She lives in Grand Rapids, Michigan, with two of her three adult children and Apollo, the Australian cattle dog they adopted during the pandemic.
What are you up to these days?

It's a great summer to enjoy the backyard pool and Apollo agrees.
I’ve collected a lot, and I have too much inventory in my art supplies, theater supplies. I need to pare down. I’m very fortunate that I have someone who will come and buy out all my unneeded items. They own an antique store and have space in their warehouse. Typically, one can send them to an auction or sale.
I have degenerative disk disease in the upper back, and even leaning forward a little bit, it’s like my crane doesn’t work. So I want to change out my kitchen sink, but it’s not in the budget right now. Sometimes, I put a dish towel on the countertop and pan on top and I can wash it that way. 
I already have a new faucet. I went to the local demolition place and got a brand-new, high-arc faucet for $15. That’s how I roll. 
Very resourceful. Do you have any advice for people preparing for retirement?
Because your biggest cost is your living expenses, I would look at your living arrangements and decide if you’re going to age in place. Some people like a retirement community where the level of assistance can change. Or maybe moving near family. I’m aging in place, but I have enough room where a family member or caregiver could move in with me. The builder installed a concrete ramp with a handrail, inside of my garage. It was here when I moved in.
As for other expenses, I would recommend people take a snapshot of your current status, and think about what’s going to change.
Smart. Can you tell me something you’re grateful for?
My parents were excellent with money. My dad being an engineer, he had ledger books in the ‘60s. He was creating a reference for himself. They had a budget. They also paid extra principal on their mortgage, so they took a 30-year mortgage and essentially made it a 15. I did the same with my mortgage.
My mom was a registered nurse. She had a bachelors of nursing. When I was raised, she advised me to get a degree or enough education that I could always support myself if I needed to. There's always been a hospital, no matter where I've lived.

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Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at and follow her on Twitter at @elizobrien.
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