The rising cost of living has severely impacted the financial outlook for younger generations, particularly Gen Z, who now face 72% less purchasing power than their baby boomer counterparts. To address potential future disparities, proposals such as Germany's 'early start pension' for children, and the U.S.'s 'Trump Savings Account' aim to empower the youngest generation with savings options, allowing families to contribute significantly towards their children's financial futures and harnessing the power of compounding interest.
In Germany, officials have proposed an 'early start pension,' a government-backed retirement savings program for children as young as 6.
Trump described the proposal as 'a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation.'
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