In a Wall Street Journal article this week, the perils of debt-supported spending by Chinese Gen Z-ers and millennials were contrasted with the potential benefits of a hyper-charged consumer economy. The upshot from a macro-economic perspective is that while some amount of borrowing can be good for an economy (leading to job creation and more productivity), it can also lead to unhealthy levels of household debt, which in turn can lead to an overall …
With a variety of interests, behaviors, experiences, personalities, and attitudes about money, we manage finances, invest, and save. Even if we are not directly responsible for financial management, we are involved via spending or generating income. How do financial institutions and advisors provide guidance? They divide us up into groups by our age, gender, net worth, income, and maybe some less-than-ideal measure of risk tolerance. The focus on Millennials is a great example of this: …