Watch Out, Utah Gen Z Will Be Super Rich

A new report from Bank of America is forecasting Gen Z to be the most wealthy generation yet. Take a moment to look at your Gen Z niece, nephew, child or neighbor. Get their image clearly in your mind. Do you have it? OK now imagine that they are wearing a monocle, a top hat, maybe a princess crown and elbow length gloves.

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That's crazy right? Probably more crazy for them as they are currently in the squeeze of debt and trying to build their financial lives. To be fair, the report does mention that this wealth is expected to start flowing to them around the year 2035. You still have time to heal relationships so you can ask for a loan in your future.

If you are doubting this information, think about this. Have you ever visited an estate or the influential and wealthy of the past? Maybe you have wandered through Graceland, Elvis' estate, or seen a celebrity suite in Las Vegas from back in the golden years. For me it was when I saw Frank Sinatra's digs in Palm Springs. When you go in these swanky dives of the past one of the first things that might become evident will be the fairly modest size of the home. I mean 20,000 square feet used to be something to crow about.

Look around your town and count off the number of impressive homes within your city limits and it might prove the Bank of America report to be true.

So congratulations Gen Z, you will be the next big thing, now you just have to figure out what goes with your future "Gen Z Rules" 24 K gold chain.