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:
How to save for retirementHow to build or improve your credit
scoreHow to reduce debtHow to avoid feeshow 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