Deutsche Bank-Thematic Research Gen Z Soft living, but financially prude...-106393093

DeutscheBankStrategyDateResearch7February2024ThematicResearchGlobalGenZ:Softliving,butfinanciallyOlgaCotagaprudentResearchAnalyst+44-20-754-15910NowthatGenZhasjustbeguntooutnumbertheBabyBoomersintheUS,akeyquestionforcorporatesandassetmanagersishowtheyoungergeneration'sLukeTempleman,CPAchangingfinancialhabitswillaffectspendingandinvestmentoutcomes.WeseeResearchAnalystchangesinboth-justnotinwaysmostpeopleexpect.+44-20-754-10130Inthispiece,wenotethe'softliving'phenomenonthatiscontributingtoGenZ'sfinancialchoices.Thisinvolvesthegreaterprioritisationoflifeoverwork.Yetatthesametime,oursurveysshowGenZwantstosaveandinvesttoensurefinancialsecurity.Theytendtobalancetheirbookseachmonth,andtheybuyhomesandmakeinvestmentsquickerthandidMillennials.WebelieveGenZ'smoretraditionalvaluesoffinancialprudencewilllikelystick.Theyaremoreinsecureabouttheirfinancesandyettheyarefinanciallyliterate,havemoneytoinvest,andappreciaterisk.Thisislikelytomakethemmoreproactiveatbuildingwealthtofinanceabalancedlife.GenZ'schangingimpactextendstopolitics.WelookatwhattheirdifferentviewsmeanaheadoftheUSpresidentialelectionandUKgeneralelection.ThebigtakeawayisthatGenZappearstobemoreconservativewithboththeirmoneyandpoliticalchoicescomparedwiththepreviousgeneration.Insomeways,thatresemblesoldergenerations.Itseemssometraitscomefullcircle.Note:Wewouldlik...