"He says that for boomers, who lived through an economic boom, accumulating wealth was easy-or at least easier than it has ever been since. Baby boomers currently hold more than $85 trillion in assets, making them the richest generation by far. Therefore, they earn the title "all about the money." Millennials, meanwhile, were handed a map and told the exact steps to follow to find the financial success their parents enjoyed."
"Then there's Gen Z. "They're going to work and they're getting paid direct deposit on Fridays and as soon as that money hits the account, it just goes automatically to their bills. They don't actually 'touch' money" says Smith. Disillusionomics has come to define a generation that's lost faith in the traditional markers of stability. What once defined financial success -a house, a family, retirement - feels increasingly out of reach for the youngest working generation."
Generations relate to money in distinct ways. Baby boomers benefited from an economic boom and accumulated wealth more easily, currently holding more than $85 trillion in assets and dominating generational wealth. Millennials were given clear steps toward financial success but often found limited returns, prompting widespread financial frustration and midlife reassessment. Gen X questions whether life should revolve around money. Many members of Generation Z receive paychecks that go directly to bills via direct deposit and rarely handle cash, contributing to a sense that traditional markers like homeownership, family formation, and retirement are increasingly unattainable.
Read at Fast Company
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