There's a common stereotype about older Americans turning to younger relatives for assistance with smartphones, social media, and other digital platforms. This stereotype, born from the days when computer and internet use was only beginning to become ubiquitous, continues to persist.
But today, the stereotype is no longer accurate -- at least not for online personal finance. New research shows that thanks to a combination of financial and technological savvy, Baby Boomers actually lead younger Americans in their ability to manage and understand their finances using digital tools.
A new Capital One Insights Center survey of 3,000 adults found that older Americans outperform Gen Z when it comes to financial skills and digital safety. Nearly 75% of respondents over 65 ranked highly on both digital and financial literacy skills, compared to just 28% of people between 18 and 24.
