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The fascination with 'old money' has captivated Gen Z, leading to discussions about its contrast with 'new money.' Keith Bloomfield, CEO of FFT, explains that old money is typically inherited and managed through trusts aimed at preserving wealth over generations, while new money is often self-made, with individuals investing in alternative assets for faster capital growth. The rise of social media has changed financial strategies, emphasizing the importance of educating future generations about responsible wealth management.
Source: YAHOO