| However, anyone who wants to broaden their perspective should familiarize themselves with the well-reasoned arguments of writers like Bjorn Lomborg, Michael Shellenberger, Heather MacDonald and Thomas Sowell, to name just a few clear thinkers. Their fact-based observations are an effective antidote to the hysteria that reigns in some segments of society. The pessimism of young people when it comes to wealth-building - and achieving the American Dream - is especially unfortunate since they have something essential that most of us lack: a lot of years ahead of them. This is a big deal because a little bit of saving and investing now can work miracles over a period of decades. For example, a 25-year-old who saves $400 a month until age 65 - and earns nothing more or less than the 10% average annual return of the S&P 500 - will have $2.24 million. (And if they invest in a Roth IRA, they will be multi-millionaires who owe nothing in taxes on their portfolio.) If $400 is too much and they save just $200 a month, they will still be millionaires. However, if someone waits until age 35 to save $400 a month - and earns the same return - it turns into just $832,340 by age 65. Wait until 45 to get started and that $400 a month turns into only $289,811. Yet 25-year-olds are among the most skeptical that they will ever be financially independent? Something is not right here. There is some good news, however. According to a 2024 Charles Schwab survey, for Gen Zers (those born in the U.S. between 1997 and 2012), the average age for their first investment is just 19. That's excellent. (And almost a decade before I got started.) For Millennials (1985-1996), it is 25. For Gen Xers (1965-1980), it's 32. And for Baby Boomers (1946-1964), it's 35. Getting a head start on investing is undoubtedly a good thing. Easy access and no minimums make wealth-building possible for everyone. (Even if you don't have a few hundred dollars to buy a share of one of the big tech leaders, you can own a fractional share and still participate in their growth.) The downside? Multiple surveys show that young people - and especially young men - with access to all sorts of risky products and strategies are committing financial hari-kari. Thanks to smartphones, zero-commission trading, and the growing "gamification" trend, young folks are amping up the risk in their portfolios... and with entirely predictable results. In my next column, I'll reveal what they're doing, why they're doing it, and what they should be doing if they truly want a share in the American Dream. Good investing, Alex | 
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