05.22.25

A Blind Spot for Younger Americans: Prioritizing Investing Over Insurance

by: Ayo Mseka

Six in 10 Gen Zers and millennials are placing too much emphasis on building wealth and growing their assets without dedicating enough to protecting those assets and managing risk with life or disability insurance, according to a Northwestern Mutual study. There are many reasons younger consumers do not often place similar importance on acquiring protection products, says Jason Thrap, wealth management advisor at Northwestern Mutual. The biggest reason is that there are too few financial advisors in America, and not enough are seeking to help younger professionals.

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