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.

Best wishes,
Elizabeth
P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue.

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.

Retirement News From Around The Web

What Employers Are Doing to Help Family Caregivers
Some 39% of caregivers now have workplace benefits such as paid family leave, up from 32% in 2015, and experts predict that number will grow even higher. NEXT AVENUE

7 Great Growth ETFs to Get Your Portfolio Going
As their name suggests, growth stocks are expanding at a faster rate than the overall market. KIPLINGER

Why We May Never Know Whether the $56,000-a-Year Alzheimer’s Drug Actually Works
Aduhelm took advantage of a speedy approval pathway, and yet it treats a slow, degenerative disease, a science journalist explains. KAISER HEALTH NEWS

Take a Mental Break With the Newest Vox Crossword
What’s a dragon-slayer of German legend (9 letters)? VOX

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 elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.
This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money.

Privacy PolicyAdvertise With UsWe're Hiring!

To stop receiving these emails, unsubscribe or manage your email preferences.

Copyright ©2021 Ad Practitioners, LLC. All rights reserved.

Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA

Older messages

Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren’t Even Looking to Buy

Friday, July 23, 2021

The amount you receive if your car is a total loss may fall short of its replacement cost. July 23, 2021 INSURANCE Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren't Even

Gen Z Is Rewriting the Rules for Personal Finance in Real Time. That’s Good, Right?

Thursday, July 22, 2021

They're working really hard to build wealth in new ways that feel ultra necessary for these post-pandemic times. The hard thing? Figuring out if... July 22, 2021 EVERYDAY MONEY Gen Z Is Rewriting

Issue #103: What do you say we talk about IRAs today?

Wednesday, July 21, 2021

plus a secret cafe + healthy Teletubbies July 21, 2021 • Issue #103 Dollar Scholar Dollar Scholar Hi y'all — Life is full of hard choices. When my alarm goes off at 8:30 every morning, for example,

Why You Should Worry About the Next Crypto Crash (Even if You Don’t Own Crypto)

Wednesday, July 21, 2021

With $1 trillion in market value, they are bound to be reverberations. July 21, 2021 INVESTING Why You Should Worry About the Next Crypto Crash (Even if You Don't Own Crypto) With $1 trillion in

Are Stocks Headed for a Correction?

Tuesday, July 20, 2021

What to know about refinancing your mortgage now July 20, 2021 Stocks had a lousy Monday, with the Dow closing down more than 700 points (or 2.1%) in the index's worst day this year. The S&P

[New post] Battle of the exchange funds

Friday, September 24, 2021

BankUnderground posted: " Max Harris This post contributes to our occasional series of guest posts by external researchers who have used the Bank of England's archives for their work on

Is the Iron Ore rally over?

Friday, September 24, 2021

Finshots Is the Iron Ore rally over? In today's Finshots we talk about why the iron ore rally may be coming to a close Markets The Story Just a few months ago, iron ore prices had reached such

China lays down the law

Thursday, September 23, 2021

Bloomberg China's financial regulators laid down the law for Evergrande Group. They told the struggling developer to do whatever it takes to avoid a near-term default on dollar bonds. Beijing also

😏 So about those rate hikes...

Thursday, September 23, 2021

The Fed shows its hand | Carmakers are sick of this chip | TOGETHER WITH Hi Reader, here's what you need to know for September 24th in 3:14 minutes. 💸 The world's biggest companies are selling

FTT+ Expert Charley Ma's Convo With SHL0MS

Thursday, September 23, 2021

​ ​ ​Hi everyone, Charley here. First, quick reminder that if you sign up for FTT+, you get my posts earlier and access to our exclusive FTT+ Community on Slack. Today's post is a little out there,

💸 Money Cheat Sheet: Your Financial Foundation

Thursday, September 23, 2021

Plus: how to stop feeling guilty about spending money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

20 fast-growing, high-paying jobs where you only need an associate's degree

Thursday, September 23, 2021

Paralegals are projected to see job growth over the decade, pay above the median annual wage, and typically need an associate's degree for the job. View in browser Business Insider Business Insider

Meet 9 BlackRock execs powering Aladdin

Thursday, September 23, 2021

The technology, which powers the majority of Wall Street firms... View in browser INSIDER INSIDER Subscribe Insider Exclusive FINANCE Meet 9 BlackRock execs powering Aladdin BlackRock is betting big on

Fintech News Issue #330

Thursday, September 23, 2021

BNPL, Crypto Wallets everywhere, finance quantum computing, Deutsche Bank, Robin Hood Crypto, better payment See Online Issue #330 2021-09-23 More large fintech companies like Square, PayPal and Robin

Zoom nabs JPM banker — Citi DEI head's plans — BofA's new org chart

Thursday, September 23, 2021

View in browser Insider Finance Insider Finance Subscribe Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for