BT Money Hacks Podcast: How Gen Z youth can save and invest smartly earlier

SingSaver’s interim country manager Prashant Aggarwal appears in this podcast about how Gen Z youth can save and invest smartly earlier.
SingSaver’s interim country manager Prashant Aggarwal appears in this podcast about how Gen Z youth can save and invest smartly earlier.PHOTO: PRASHANT AGGARWAL

BT Money Hacks Ep 81: How Gen Z youth can save and invest smartly earlier

12:14 min

Synopsis: Updated fortnightly on Mondays, The Business Times breaks down useful financial tips.

This episode looks at how and why Generation Z youth approach savings and investments.

SingSaver conducted a survey over August and September this year, and found that when it comes to saving habits, Singaporean Gen Z youth (aged 18 - 23) are savvier than their millennial counterparts (aged 24 - 39).

  • 85% of Gen Z respondents started saving before the age of 22, more than twice the number of millennials, at just 41%.
  • 65% of Gen Zs stick to their budget “often” and “very often” as compared to 56% of millennials.

Chris Lim hosts SingSaver’s interim country manager Prashant Aggarwal.

They discuss the following points:

1. Three reasons why Gen Z youth are already saving for retirement and starting investment journeys earlier than older generations (1:55)

2. Why it is easier to start investing now in this age of robo advisers, Internet banking, app-based stock trading and easy access to global markets (3:35)

3. Which are the top five asset classes that Gen Z youth focus on? (6:15)

4. Understand the key principle: Higher return, higher risk, higher effort and inversely, lower return, lower risk, and lower effort (7:00)

5. Steps on how Gen Z youth can start small with $50 targets and gradually generate a passive income of $1,000 a month (8:00)

Produced by: Chris Lim and Ernest Luis

Edited by: Adam Azlee

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Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.