Gen Z will experience an unprecedented “boom” in entrepreneurship thanks to technology, according to one personal finance expert.
“I think this next generation, this Gen Z generation and the kids coming up behind them, I think we’re going to see an entrepreneurial boom like we’ve never seen in history because of the playing field being leveled and technology making it so much easier,” Ramsey Solutions’ Ken Coleman predicted on “The Big Money Show” earlier this week.
His comments come after FOX Business spoke to social media influencer Sophia Castiblanco, who took control of her financial freedom at 14 years old with savvy investments.
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“I first kind of started making an income when I was 14, and it was because of social media,” she said. “So I’ve always kind of had a business mindset of wanting to make money if you’re only like, I don’t know, 12 years old, and you obviously aren’t going to have the biggest income. But I think it’s important to realize that even if you just invest like $20 a month, or I mean a super-small amount, you can still grow that over time.”
What’s more, a new report found nearly half of Americans are stuck in jobs that don’t require college 10 years after they have graduated.
The Ramsey Solutions personality believes we are getting closer to a post-college career trend.
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“The trend is going that way. You’ve got more and more big-time companies that are saying we don’t need a college degree. And that’s a big trend,” he explained. “We’re also seeing 36% of Americans now saying they trust college as the best way to prepare themselves or their kids for the future. That’s a staggering number from a recent Wall Street Journal study.”
He also warned of the impact that college recruitment is seeing due to the loss in value.
“It’s only a matter of time before we’ve continued to see college enrollment drop, and that’s where we are today,” he said.
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