Generation Alpha: Wealth Could Come Easy, But What Could Go Very Wrong
Probably the last generation in America to have it "easy" was us Boomers. The post-WWII economic boom was kicking in. College opened up to us and was cheap. Investing, not just surviving, was doable. And we became the wealthiest generation in America. At least so far. Members of Generation Alpha - born between 2010 and 2024 - could outdo us. A recent PwC survey found two things: These kids are entrepreneurs from the get-go. 86% earn their own money. They are one with technology. It's like breathing air for them. 38% use AI tools for fun. But much could go wrong along the way. As CNBC cautions, pareents have to guide Alphas to invest the money, not get caught up in consumerism. For big spenders even something as basic as financial security - never mind acquisition of wealth - has been unbundled from high earning power. Up to 40% of those grossing $300k - $500k annually live paycheck to paycheck. Also, despite the myriad grim warnings about the unmarketability of m...