Zaid Admani is a millennial and a civil engineer, and he’s trying to get young people to think about money — and their futures.
Admani, 29, has been promoting financial literacy on TikTok. Under the profile “admani_explains,” he posts videos on the social network to his nearly 260,000 followers discussing recent investing news or concepts. In one video, he broke down how PayPal undefined co-founder Peter Thiel used his Roth individual retirement account to amass $5 billion. In others, he explains how financial news might impact a person’s daily life, such as the latest contender in the streaming wars.
His followers have asked him a wide variety of questions, including his opinion on a financial topic or just how to get started earning, saving and investing at a young age. He has partnered with financial brands, including the online investment firm Betterment, to spark these sorts of conversations with younger viewers through sponsored content, which he gets paid to do. He has also partnered with investing company Public.
Members of Generation Z, who were born in the years 1997 to 2012, may be too far removed from retirement to think about saving for it, but financial institutions are attempting to engage with them all the same — in some cases, by working with influencers on TikTok to talk about investing.
“Using social media, there’s more good than bad,” Admani said. Yes, people shouldn’t blindly trust someone just because they have a large follower count, but a...
Read Full Story: https://www.marketwatch.com/story/generation-z-invests-differently-and-how-firms-are-responding-to-that-11629890519
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