The coronavirus pandemic is a 'defining moment' for Gen Z — Here's how it's impacting their future investinyou (In partnership with acorns.)
What's more, its 2017 report found that 12% of Gen Z are already saving for their retirement. Both reports surveyed 1,000 members of Gen Z in the U.S. and had a margin of error of +/- 3%.
Now, they are becoming even more frugal and are interested in tracking their money, which is all done digitally. Many also have emergency accounts they can access on their phones. "The pandemic impacts decisions on everything, from where they live, to cars and the type of company they would go to work for," Dorsey said.
"We are seeing them become more risk-averse," he said. "Choosing not to move across the country, choosing not to move far away from what they know right now."NEW YORK, NEW YORK - MAY 15: Students wear protective face masks, graduation caps and graduation gowns outside The New School during the coronavirus pandemic on May 15, 2020 in New York City.Whether they just graduated from college or are early in their career, members of Gen Z may have to rethink their path.
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