A looming $73 trillion wealth transfer to younger generations is drawing attention to the rise of social media as a tool for financial advice among Gen Z and millennials, according to a report by the World Economic Forum.

“Finfluencers,” a segment of online influencers who share advice about money and investing on social media, are helping drive the democratization of financial information, a trend that is shaping investing behaviors, the report said. That comes as baby boomers (born 1946 to 1964) and members of the silent generation (born 1928 to 1945) are expected to pass down roughly $73 trillion to younger generations by 2045.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *