Gen Z, RichTok, and the Race for Financial Independence: Why Young Investors Are Getting Their Money Advice From Social Media

A new Fortune deep dive reveals something older generations may find surprising: more than half of Gen Z investors say they entered the stock market because of social media. Not textbooks. Not traditional advisors. TikTok, Instagram, YouTube, and the viral world of #RichTok.

The study—part of a five-year survey of 300,000 people by the Oliver Wyman Forum—shows that 55% of Gen Z and 44% of millennials credit social media as the top influence in their decision to start investing. For a generation raised on short videos, curated lifestyles, and algorithm-powered advice, the typical financial advisor in a suit is no longer the go-to.

The Rise of Finance Influencers (and “Funance”)

Creators like Vivian Tu, known as Your Rich BFF, have made investing feel approachable. Tu, with millions of followers across TikTok and Instagram, turns complex financial concepts into digestible, entertaining content—sometimes comparing stock market dynamics to the Kardashians or The Real Housewives.

Then there’s Rebecca Ma, aka Becca Bloom, whose luxury lifestyle content—feeding her cat caviar, filming her designer hauls—draws millions of views. While not a financial educator, her aspirational lifestyle embodies the dream fueling many Gen Z investment decisions: financial independence and the freedom to live big.

According to Fortune’s reporting, the rising pressure to “make it” is real. In 2022, only 18% of people said they felt financial pressure as a marker of success. By 2025, that number jumped to 33%, ballooning even higher among low-income earners and baby boomers nearing retirement.

Gen Z Is Investing Earlier Than Any Generation Before

A World Economic Forum survey found that over half of Gen Z began learning about investing before even entering the workforce—compared to only 20% of Baby Boomers. Nearly a third of Gen Z began investing in college or early adulthood, double the rate of millennials.

The driver? Economic uncertainty. With a shaky job market and pessimism about the future of Social Security, Gen Z is laser-focused on building wealth early and independently. As Natalya Guseva of the World Economic Forum put it, Gen Z increasingly believes they “can’t rely on governments and pensions” the way previous generations did.

AI Is Becoming Gen Z’s Financial Advisor

Younger investors are embracing artificial intelligence at unprecedented levels. Nearly half of participants in the Oliver Wyman survey said they consult AI when investing—up sharply from the previous year.

Interestingly, Gen Z mostly uses AI as a teacher or “sounding board,” not a fully autonomous investor. Many say AI makes them feel more understood than human advisors. And in a revealing trend, Gen Z trusts institutions more when those institutions offer AI-powered tools.

Crypto: The Default Entry Point for Young Investors

While older generations build portfolios of stocks, bonds, and diversified assets, Gen Z leans heavily toward cryptocurrency. According to the WEF survey, crypto represents more than one-third of the portfolios of 71% of Gen Z investors—far higher than any other age group.

The reason isn’t just exposure. Guseva notes that crypto has outperformed traditional finance in marketing and accessibility. Gen Z finds crypto easier to access and even easier to “understand” than stocks or bonds.

This shift highlights a generation eager for high-risk, high-reward opportunities—and skeptical of slow, traditional paths toward wealth.

What This Means for the Future of Financial Education

Gen Z’s hunger for financial literacy is undeniable. They want independence, stability, and options—and they’re turning to creators, AI, and alternative assets to get there. But while social platforms offer speed and entertainment, professionals know that financial literacy built on structure—not virality—is what leads to long-term success.

As Gen Z continues redefining money, markets, and success, one thing is clear: they aren’t waiting for permission. They’re building their futures now—one #RichTok, investment app, and AI-powered decision at a time.