The financial landscape has changed a lot between the boomer generation and Gen Z. Many young adults have been priced out of homeownership, and everything seems to get more expensive each year.
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Financial guru Robert Kiyosaki has guided people across multiple generations with their finances, and he said that the playbook is different for Gen Z. Knowing how to build wealth in this new environment can get you ahead of most people and give you more flexibility.
Build Assets
Kiyosaki is against saving pennies and wants people to build assets instead. You can put your dollars to work in the stock market, and it’s easy to get started with an index fund if you don’t know much about financial markets.
The issue with cash is that it loses value each year due to inflation. Each time the government prints more money, your extra dollar becomes less valuable. While investing is a great way to accumulate assets, you can also build assets by starting a business.
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Use Digital Resources To Grow Your Career
Kiyosaki offered a bit of hope when describing the obstacles that Gen Z consumers face. He mentioned that modern technology has made it easier to learn new things, capitalize on opportunities, and break past the status quo.
It’s much easier to apply for a job, start an online business, and tap into other opportunities to boost your earnings. However, tech is a double-edged sword. If you find yourself scrolling TikTok videos all day, you are missing out on a game-changing resource for Gen Z. It’s one of the few advantages Gen Z individuals have over boomers from a financial perspective.
Start a Side Hustle
Kiyosaki believes you should start a side hustle when you are 22 to 24 years old. Of course, you can start a side gig earlier if you feel inclined. If you’re older than 24 and haven’t started a side hustle yet, now is a good time to embark on that journey.
Side hustles force you to learn new skills, and some of those skills can translate into a higher income. It’s also extra money in the bank that you can quickly put to work in assets like stocks and gold.
Some side hustles can even turn into full-time businesses. You might earn more from a side hustle than you’re making from your full-time job. Some people proceed to leave their jobs, opting for a more profitable side hustle that doesn’t take as much time or effort.
Network With Other Wealth Builders
Kiyosaki recommends that Gen Z network with other wealth builders in their mid-20s. At this age, you likely have some experience under your belt and are in the process of growing your earnings. It’s good to do those things on your own, but your chances of success grow if you network with other wealth builders.
You are the average of the five people with whom you spend the most time, and if you surround yourself with millionaires, you are likely to become a millionaire in the future. Some people are lucky enough to find wealth builders in their area. However, you can also attend conferences, watch YouTube videos from wealthy individuals, participate in online groups that are filled with high earners, and look for other communities where these people congregate.
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This article originally appeared on GOBankingRates.com: Robert Kiyosaki’s 2025 Wealth-Building Blueprint For Gen Z
