How Different Generations Get Financial Advice

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Getting sound financial advice is crucial in today’s world, and it’s even more important when it comes to retirement planning. However, the way each generation perceives and seeks financial advice varies significantly. In this article, we will look at how different generations in the United States obtain financial advice.

Baby Boomers

Baby Boomers, who were born between 1946 and 1964, are typically more risk-averse and prefer to discuss their financial goals and investments in person. They often seek financial advice from a variety of sources, including financial advisors, brokers, and banks. They value face-to-face interactions and tend to trust referrals from friends and family.

Generation X

Generation X, born between 1965 and 1980, are often referred to as the “sandwich generation” as they are responsible for taking care of their aging parents and their own children. They tend to be more independent and tech-savvy than Baby Boomers, and are more likely to use online resources and tools to manage their finances. They are also more likely to seek advice from robo-advisors, which are automated platforms that provide investment advice based on algorithms.


Millennials, born between 1981 and 1996, value transparency and authenticity in their financial advisors. They often seek advice from fee-only financial planners who do not earn commissions from investment products. They are the most tech-savvy generation and are more likely to use online resources to manage their finances. They also tend to seek advice from friends and family.

Generation Z

Generation Z, born after 1997, are just starting their financial journeys. They are the most digitally native generation and rely heavily on social media for information and advice. They are also more likely to invest in socially responsible investments and to seek advice from online communities and social media influencers.

The way each generation seeks financial advice varies, significantly impacted by their comfort with technology and where they are on their financial journey. Regardless of the generation, however, it is important to seek advice from qualified professionals and to do your own research before making any financial decisions.

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