Gen Z: Often discussed, rarely understood.

But the generation gap isn’t just a talking point. Economic shifts, regulatory changes, and evolving financial behaviors mean a consumer’s age has a considerable impact on what they spend, where they spend it, and why.

Recent research into Gen Z’s financial status points to a troubling trend: rising living costs and declining job prospects are fueling a sense of financial nihilism. A recent study projects that those born in the 1990s will retire with homeownership rates nearly 10 percentage points lower than their parents. As the likelihood of owning a home falls, behavior changes: higher consumption relative to wealth, reduced work effort, and riskier investments.