"Gen Z loves #RichTok - and they love being rich. Mash them together and you get a generation that overwhelmingly turns to social media for investing advice as they seek the most elusive thing of all for the young: financial independence. Social media ranked the top reason 55% of Gen Z and 44% of millennial investors say they got into investing, according to a survey of 300,000 investors over five years by the Oliver Wyman Forum."
"In their search for alternative pathways toward financial security, personal finance influencers are providing solutions. Videos describing how to invest $1,000 in the stock market or explaining "the stock market tea" in terms of the Kardashians or The Real Housewives franchise get hundreds of thousands of views across platforms. Vivian Tu, better known as Your Rich BFF, has 2.7 million TikTok and 3.8 million Instagram followers and gives advice on investing, financial planning,and tax loopholes."
A growing number of Gen Zers turn to social platforms for investing guidance and strategies aimed at achieving financial independence. Influencers deliver accessible, relatable finance content that ranges from basic investment how-tos to luxury lifestyle demonstrations tied to wealth aspiration. Large followings for creators like Vivian Tu and Rebecca Ma show demand for peerlike financial guidance and aspirational portrayals. Survey data indicate social media is a leading motivator for many new investors, and increasing pressure to earn has grown notably between 2022 and 2025, especially among low-income earners and older workers nearing retirement.
Read at Fortune
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