"Zillennial" financial insights with Lilah Raynor

We welcomed Lilah Raynor of Logica Research back on the podcast recently to discuss the newest wave of data in the company’s ongoing “Future of Money” study, which examines the way people are making, spending, investing and saving money. Part of every report looks at financial behaviors among certain generations, and on this episode, we dive in with Lilah into what she calls the “Zillennials”, or individuals who are at the intersection of Gen Z and Millennials – ranging in age from about 23-33 years old.

Lilah begins by giving listeners some background on the Future of Money study, which she started in 2017. She discusses the impact of changing economic conditions, including inflation, stock market fluctuations, and banking crises, on different generations. She says, “There has been a lot of change in the financial services industry over the last five years and it's constantly changing, not just the economy, but what's being offered out there and what people need.” In every wave of the study, there is a generational breakdown, so she’s able to take a historical look at the data by age group.

We talk a bit about these generational differences, such as the tech-savvy, early adopter Millennials and how Gen Z is reshaping community definitions, favoring online networks. Lilah suggests that Gen Z prefers one-to-one interactions in addition to using technology when it comes to financial services. Diving into the microgeneration of Zillennials, she mentions that they have some qualities and characteristics of both generations. “They're unique too because they are at this life stage where they're starting to work, they're starting to have lives of financial independence.” This leads into a deeper discussion about what these individuals expect from their employers surrounding finances, and how things are evolving in the workplace.

As with most of our recent conversations on the podcast, we touch on the role of generative AI, both regarding the methodology used to gain data for the study, and how people use it in their financial lives. The latest wave of the study included some questions on ChatGPT, focusing on awareness and usage from a financial perspective. Logica found that one in five people would use AI for financial advice in the future among younger generations, but not Boomers. Lilah expects that these numbers will increase in the next wave of the study, coming up this fall.


We have a much more detailed discussion about financial behaviors and expectations for each generation, from how they are saving for retirement and concerns surrounding sustainability all the way to how they are making money and using financial technology. Listen to the whole episode for valuable insights into generational financial behaviors and the evolving financial landscape, as well as highlights on the unique characteristics and challenges faced by different generations, including Zillennials.

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