Finance
Despite flak for doom-spending their money, Gen Z may be more prepared for retirement than baby boomers, research reveals | Fortune
Gen Z may be known for blowing money on the latest Taylor Swift concerts or luxury trips, but behind the youth’s passion for fancy expenditures is a responsible financial habit: investing for retirement.
In fact, the younger generation may be more prepared to retire than their older cohorts. Nearly half of Gen Z workers (aged 24-28) are projected to maintain their current standard of living in retirement, slightly ahead of the 40% projected for baby boomers (aged 61-65) approaching retirement, according to a new study from investment management firm Vanguard. Millennials were also slightly ahead of the older generation (aged 29-44), with 42% on track for retirement. Gen X fell slightly behind at 41% (aged 45-60).
Vanguard based its findings on data from the 2022 Survey of Consumer Finances, using roughly 2,700 working U.S. households to estimate how each generation was on track for retirement and whether their retirement incomes would be enough to maintain their lifestyle without exceeding their spending needs.
The financial readiness of Gen Z could come as a shock to older generations who may believe they are “doom spending” or making discretionary purchases, rather than necessary ones they’ll need to reach adult milestones. While soaring inflation, high living costs and stagnant salaries are dragging baby boomers out of retirement, young savers may be taking those headwinds as a financial lesson.
Automatic payments and DC plans are helping Gen Z save
Part of the financial preparedness is due to expanded Defined Contribution (DC) plans offered by employers. For younger generations, the plans could make saving easier and more effective through features such as auto-enrollment, automatic escalation, and investing in target-date funds. In addition, a separate Vanguard study found that DC plan participation and eligibility rates are at all-time highs, which could help workers build financial security over time.
What’s more, the study pointed out that if all workers had access to a DC plan—such as 401(k) 403(b)s, about 6 in 10 Americans would be on track for retirement. More than 100 million Americans have access to these plans, holding more than $12 trillion in assets.
But access to retirement funds isn’t universal. A separate analysis found 42% [roughly 40 million] of workers do not have access to these plans, with access gaps concentrated in lower-wage and part-time jobs.
However, despite the younger cohort funneling money into their 401(k)s, the future of any further progress depends on their overall financial wellness. Even with their success in saving, many younger generations are grappling with debt repayments—from student loans, auto loans, and mounting credit card debt.
“Supporting overall financial wellness with effective planning tools is key to helping the next generation achieve lasting retirement security,” said Nicky Zhang, a Vanguard investment strategist and co-author of the research paper.
Baby boomers may hold most of the nation’s wealth but aren’t ready to fully retire
Though Gen Z may be facing debt-repayment struggles, baby boomers, even with holding over half of the nation’s wealth, are not ready to stop the 9-to-5 to retire comfortably. While the wealthiest 30% of boomers are generally on track, others may fall short.
For example, the median boomer is projected to need to replace about a third of their pre-retirement income through private and employer retirement savings, facing a shortfall of roughly $9,000 (or a quarter of their expenses).
To cope, boomers may need to consider options like tapping home equity, reducing spending, or working two additional years, the study found.
Finance
Sports betting should be regulated as a financial product, not gambling, aspiring prediction market provider says
MIAMI BEACH, Fla. — Sports betting should be regulated as a federal financial product rather than a state-licensed casino product, two panelists said Thursday.
Appearing at Consensus Miami 2026, Jacob Fortinsky, co-founder and CEO of sports betting platform Novig, said the legacy sportsbook model is structurally broken because it treats winning bettors as cheaters.
“Sports betting is really the only industry in the country that regularly limits and bans their power users,” Fortinsky said. He framed sports event contracts as binary financial instruments that “for so long have been treated as a gambling product and instead should really be treated as a financial product.” Globally, he said, sports betting is “a $2 trillion asset class still dominated by these legacy casinos.”
Adam Mastrelli, founder of 57 Maiden, a firm that builds AI-driven trading strategies for prediction markets, validated the critique with personal experience.
“My partner and I got kicked off of two big sportsbooks within two months of trading because we were sharp,” he said, It’s like “LeBron James getting kicked out of the NBA for being too good,” he added.
Mastrelli said the team turned to Novig, which he said charges no fees and allows traders to create synthetic positions.
Mastrelli said his firm’s edge decayed quickly, and of 154 proposed trading strategies, only three currently run profitably.
“This edge will go away,” he said, “so if you can build systems that can keep up with that edge and that alpha… then it becomes really, really intriguing.” His most profitable season, he said, was the WNBA.
Fortinsky said Novig is on track to transition this summer from a sweepstakes model live in 35 states to a federal DCM framework that will let it operate in all 50 states. An earlier attempt to be regulated at the state level in Colorado, he said, was a wake-up call. “Regulators told us essentially you’re naive if you think we care about consumer protection or innovation or market efficiency. We really just care about our tax revenue,” he said.
The federal-state fight, Fortinsky added, is “going to get to the Supreme Court in the next two or three years,” with 15 pending lawsuits between the Commodity Futures Trading Commission, Kalshi, Robinhood and various states. Within prediction markets, he argued sports is “counterintuitively actually the safest vertical,” given the bigger insider-trading and manipulation concerns around political and event-driven contracts.
Mastrelli, who said he avoids offshore platforms entirely, compared prediction markets to equities exchanges: “When I see a robust equities market now, this is AQR against SIG. It doesn’t go away.”
Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.
This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.
“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”
Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.
Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.
To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.
What is Harley-Davidson’s “Back to the Bricks” strategy?
Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.
Harley-Davidson “Back to the Bricks” 5-point plan
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Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
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Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
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Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
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Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
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Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
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