Gen Z & Millennials Are Struggling More Than Ever
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 14 May 2024
⏱️ 43 minutes
🧾️ Download transcript
Summary
• • •
Visit Ken's Bookstore: https://kenmcelroy.com/books
• • •
ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
• • •
DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
Comments that are off-topic, offensive, or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
© 2024 KenMcElroy.com, LLC. All Rights Reserved.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. |
| 0:04.5 | Who needs a home when you can buy a purse? And that's basically the motto of Gen Z. But in all |
| 0:11.6 | seriousness, you know, we're looking at Starbucks, McDonald's, Target, IKEA, and many stores are |
| 0:16.7 | showing us that people are running out of money. The economy is drastically slowing down and young |
| 0:22.6 | people are poorer than ever. So we're going to talk about today why and then what you can do about |
| 0:27.7 | it as well. Yep, there. Blow right through their savings and now credit card debt's the highest ever. |
| 0:33.7 | Yeah. And it's not just really a savings issue. So, you know, people were saying pandemic spending was the reason that, you know, all these kids were the younger generations were going out and spending a lot of money. But what we're now seeing is clearly they don't have that money and they're still spending. And consumer spending is a huge part of the U.S. economy. So the government really does want them to spend. |
| 0:57.3 | But, you know, we're going to kind of dive into why they're spending more and what their |
| 1:01.9 | mindset is. |
| 1:02.2 | I would tell you, though, at that age, like, you don't really have a lot of financial |
| 1:06.2 | literacy. |
| 1:06.6 | That's the whole point of this channel. |
| 1:08.6 | But it's true. |
| 1:09.9 | Like, it's fun spending money and all that |
| 1:12.3 | kind of stuff. And you always think there'll be another time. There'll be another time. But to your |
| 1:15.9 | point, it's starting to show up now everywhere. Well, and it's not just Gen Z. Millennials are |
| 1:22.2 | spending, you know, a lot as well. In fact, 73% of millennials right now are living paycheck to paycheck |
| 1:28.2 | compared to 66% of Gen Zers that are living paycheck to paycheck. Herschally, probably because |
| 1:33.7 | some Gen Zers are still living at home, would be my guess. So Gen Z is 12 to 27. Millennials are |
| 1:40.8 | 28 to about 43. Gen X is 44 plus. |
| 1:45.6 | And then, of course, baby boomers. |
| 1:47.7 | But I really wanted to break this down because I think that, you know, my generation, which is a millennial and also Generation Z, they do get a bad rap as far as not saving money and not doing all these things. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ken McElroy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ken McElroy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.