The traditional American Dream, characterized by homeownership, a stable job, and financial security, has become increasingly out of reach for Gen Z. The rising costs of living, stagnant wages, and a lack of financial education have led many young adults to question the feasibility of this ideal. The author of the article, a first-generation American, shares their personal journey of navigating these challenges and their efforts to create a platform that empowers others in their generation.
Growing up, the author’s parents, who came to the United States from China, believed in the potential of hard work and opportunity. Their sacrifices allowed the author to pursue their ambitions, including a successful venture into virtual reality and a stint at Harvard during the pandemic. However, the challenges of the financial landscape have led the author to develop dub, a fintech company that aims to make investing more accessible and transparent for all Americans. This initiative reflects the author’s belief in the possibility of the American Dream, even in the face of significant obstacles.
Despite these efforts, the author acknowledges that many Gen Z individuals are struggling with the current economic climate. Studies indicate that a significant portion of this generation no longer sees a traditional 9-to-5 job as a pathway to financial success. Instead, they are turning to alternative methods such as side hustles and entrepreneurship. The author highlights the role of social media in providing financial advice, noting that while it may not be the most reliable source, it is often the only available option for many young people.
The article calls for a reevaluation of how financial education is approached and the development of tools that can empower Gen Z to achieve financial stability. The author advocates for systemic changes that prioritize financial literacy and the creation of investment opportunities that are accessible to all Americans. These efforts are seen as essential for restoring faith in the American Dream and ensuring that future generations have a viable path to success.