Young and wealthy: how different generations spending money
How Different Generations Save and Invest
Our attitude toward money is shaped by everything — from historical events and economic cycles to personal life views and family habits.
Baby Boomers (born 1946–1964) grew up during economic prosperity and favor reliable assets: real estate, gold, dividend stocks. They stick to long-term strategies and value predictability.
Generation X (1965–1980) are pragmatists. Their approach is diversification — from stock markets to international real estate. They focus heavily on returns and tax efficiency.
Millennials (1981–1996), unlike older generations, faced financial crises early in their careers. They invest cautiously, often favoring tech-driven or sustainable assets, and value flexibility, passive income, and lifestyle-oriented investments.
Generation Z (1997–2010) is just stepping onto the stage. Raised in a digital world, they are open to new forms of investing: crypto, crowdfunding, fractional ownership. Yet they are increasingly drawn to classic assets too, especially Southern European real estate for rental income or as a base for building wealth.
And here’s the interesting part: while older generations typically started investing after landing their first job and building adult savings, Gen Z is playing by different rules — they’ve got a head start.
According to the World Economic Forum, around 6% of Gen Z began investing while still in school. For comparison, only 1–2% of Boomers, Gen Xers, and even Millennials had early exposure to the market at that age.
30% of Gen Z entered the investment world during university or right after graduation — twice the share compared to Millennials. For Gen X and Boomers, most began investing years into their careers.
Why the difference?
Gen Z has advantages that older generations never had:
Easy access to investment platforms right on their phones
A habit of learning through YouTube and TikTok
Most importantly — family experience.
Nearly half of Gen Z and Millennials grew up in households where parents already had investment accounts. For Gen X, that figure is 34%, and for Boomers — just 22%.
This not only fuels earlier starts but also stronger confidence: about 40% of Gen Z and Millennials feel confident in managing investments independently. For Gen X, it’s 27%, and for Boomers, just 20%.
How Different Generations Spend
According to the World Economic Forum, nearly half of Gen Z and Millennials (45%) prefer to invest internationally. Among Gen X and Baby Boomers, that figure is around 35%.
But there’s an important nuance: the younger the generation, the less diversified their portfolios tend to be. While older generations typically balance investments across different asset classes, Gen Z and Millennials often concentrate their portfolios around high-risk assets.
WEF analysts note that for 74% of Gen Z investors, alternative assets make up a third of their portfolio. Meanwhile, 62% of Millennials hold at least a third of their portfolio in cryptocurrencies. Why? Partly due to a lack of financial education, partly due to a greater willingness to take risks — and likely a combination of both. That’s why experts emphasize the importance of financial literacy: it helps build stronger, more balanced strategies where risk and return are thoughtfully aligned.
Interestingly, young investors show more curiosity about market mechanics. Dividend payments and stock splits aren't just formalities to them — they are real decision-making tools.
And another important shift: ESG factors are increasingly influencing investment decisions. For 55% of Gen Z and Millennials, the environmental and social impact of a product or company matters — and they take it into account before investing. Among Gen X, this concern drops to 38%, and among Baby Boomers, to just 27%.
What Would You Do If You Suddenly Became Very Wealthy?
If you’re a Millennial or a Gen X’er, chances are you’d invest in your future. At least that’s what a recent study by the international consultancy Knight Frank suggests.
Researchers surveyed 1,788 individuals aged 18–35 with an annual income of at least $125,000 — and often much higher. They wanted to understand what major purchases this young, affluent generation dreams of — and how those dreams reflect their attitudes toward money, prosperity, and investment.
Interestingly, the focus was on unexpected financial gains — inheritances, lottery winnings, or other sudden windfalls. What would they spend this money on? The answers surprised even the researchers.
There’s a common stereotype that young people are careless with money and live in the moment. Knight Frank’s data tells a different story: almost half of respondents said they would rather invest in experiences — travel, health, and personal development — rather than material possessions.
Among those choosing experiences:
22% dream of international travel
20% would invest in health and wellness programs
Notably, among respondents earning over $1 million annually, healthcare and wellness investments ranked first, even ahead of travel — indicating a deeper shift in values toward quality of life and longevity.
But the study didn’t stop there. Participants were also asked: If you had to spend your unexpected bonus on material goods, what would you choose? And that’s where things got even more interesting.
Top 5 Dream Purchases Across Generations
When it comes to major investments, both young affluent buyers and Millennials are not only choosing based on emotion — they’re focusing on assets with strong growth potential. Here's how their preferences are distributed:
Premium Real Estate — 29.8%
Nearly a third of young wealthy individuals prioritize investments in high-end real estate. This shows that property is back in the spotlight — valued as a stable asset for preserving and growing capital.
Luxury Cars — 27.8%
The love for beautiful, fast cars is still strong — but real estate has now taken the lead.
Private Jets — 15.1%
While not a mainstream choice, for some respondents, owning a jet remains a powerful symbol of freedom and independence.
Art Collections — 12.4%
Interest in art as both an investment and a status symbol remains strong, particularly among those who think outside the box.
Superyachts — 8.9%
A dream few can afford — and even among young millionaires, not a top priority.
Real estate ranked first — even among those who otherwise prefer to invest in experiences like travel and wellness. Some assets truly have the power to unite different generations with very different lifestyles and dreams.
Thinking about taking your first step into real estate investing? Even if a sudden fortune hasn't landed in your lap, the market might be more accessible than you think. Greece offers a smart entry point for investors looking for affordability and strong rental yields.
