Natalie Baddour, 26, from Fort Lauderdale, Florida, is focused on saving. She has accumulated 300,000 USD by allocating over half of her income from sales and stocks. To build her financial foundation, she shares a room with a friend, cooks her own meals, and drives an 18-year-old car.

"Building wealth from a young age has always been key to achieving the life I desire", Baddour said.

The US is witnessing a distinct trend: Generation Z (born between 1997 and 2012) is preparing for retirement at a much earlier age. They are maximizing savings, shifting focus from appearance to optimizing their retirement funds.

A 2024 survey by Charles Schwab indicates that Generation Z begins saving, investing, and building retirement funds from age 19. Previous generations, such as Generation X (born 1965-1980) and Baby Boomers (born 1946-1955), started later, at ages 32 and 35 respectively.

A 2024 report by the Investment Company Institute and the University of Chicago also shows that older members of Generation Z possess three times the retirement assets compared to Generation X at the same age in 1989. Data from Vanguard Group reveals that one-third of Generation Z savers contributed the maximum 7,000 USD to their individual retirement accounts last year.

Dan Egan, vice president at the wealth management platform Betterment, stated that economic uncertainty is driving young people's interest in long-term financial goals. The reasons include soaring real estate prices, rising interest rates, the risk of the US Social Security Fund being depleted by 2032, and the rapid rise of artificial intelligence.

Young people are actively joining the FIRE movement (financial independence, retire early) to leave their jobs before age 65.

Grace Colvin. *Source: Grace Colvin*

Grace Colvin, 26, from Chicago, works as a management consultant and manages social media accounts documenting her saving habits. She has currently accumulated 100,000 USD.

Many find Colvin's lifestyle puzzling, choosing instead to spend freely due to pessimism about the global economy. "It all reflects how Generation Z responds to the same economic anxieties", Colvin said.

However, an intense focus on saving also carries risks. Andy Reed from Vanguard noted that many young people are so determined to hoard money that they allow credit card debt to accumulate.

"Many mistakenly believe they are optimizing their future, but in reality, they end up paying a larger amount in interest due to not managing their debts properly", Reed said.

Emmanuel Daniel, 24, a financial analyst at American Express, started investing at age 18. He contributes the maximum amount to his 401k retirement fund and high-interest accounts. Daniel currently has 92,000 USD and finds enjoyment in free recreational activities.

"I save to gain the freedom to wake up with full control over my day", Daniel said.

Minh Phuong (According to Bloomberg)