KUALA LUMPUR, Nov 12 — Malaysian Gen Z and Millennials are saving earlier, redefining wealth, and empowering more women to invest — trends that could reshape how the next generation builds financial security, according to new insights from international proptech group Juwai IQI.
In a press statement yesterday, Juwai IQI said the findings were shared by co-founder and group CEO Kashif Ansari and several panellists during the recent Juwai IQI International Summit 2025 in Kuala Lumpur, which hosted delegates from more than 20 countries.
According to Ansari, members of Generation Z (aged 13 to 27) and Millennials (aged 28 to 43) make up more than half of Malaysia’s population and are charting their own paths to wealth.
“At our panel discussion, we identified three significant ways Gen Z and Millennials are already rewriting the wealth playbook laid down by their elders.
“First, they are saving more of their income and starting to save earlier in their lives, compared to previous generations.
“They have different ideas about what being wealthy should look like and third, in these younger generations, women feel more empowered to save, invest, and establish financial security for themselves than in the past,” Ansari said.
Saving earlier
Ansari said that although analysts expect per capita spending by Gen Z to grow twice as fast as previous generations — at four per cent per year over the next decade — many remain cautious about their finances.
“Nearly half, 48 per cent of Gen Z and 46 per cent of Millennials, don't feel financially secure.
“According to a recent global survey that included Malaysia, they worry about the cost of living more than crime, unemployment, politics, and mental health.
“Despite these worries, 50 per cent of the two generations already feel themselves to be financially secure,” he said.
Jia Yin, an agent with the IQI Elite Team who is part of Gen Z, said younger Malaysians are saving more and earlier because they understand how unpredictable the economy can be, and believe it is best to plan ahead and make wise financial decisions.
She added that her generation and Millennials are more open to exploring opportunities — whether by investing in property, starting a side business, or learning about digital finance.
Former AirAsia pilot Jayden Ng, who left aviation to lead a 2,000-strong IQI team, said some younger people are bigger risk-takers because their basic needs are often supported by their parents, allowing them more freedom to invest.
“In the worst-case scenario, they could go back to their parents’ homes.
“Millennials however are more conservative and save more because they have less backup,” Ng said.
Emily Goh, who graduated in 2021 with an accounting degree and now leads a team at IQI, cautioned against assuming that all young people are willing to take major financial risks.
“Not everyone is ready to take big risks. Some still feel unsure about money or are just trying to get by. It depends on each person’s situation,” Goh said.
Redefining wealth
All three said their generations view wealth differently from their elders.
For Goh, wealth and success are not necessarily about buying a bigger home or an expensive car, but about being financially secure while leading a meaningful life and maintaining physical and emotional well-being.
“For our generation, being ‘rich’ can mean having time for yourself, being able to travel, or doing work you enjoy.
“We are more open-minded about money and life. We care about balance, freedom, and doing something meaningful, not just having big houses or luxury items like older generations often wanted,” Goh said.
Ng said that for him, wealth means being able to provide for others.
“You can provide for yourself but also provide for others as well.
“I can drive a nice car and have a nice home, but I can also teach skills to those around me.
“Money is to settle my basic needs and if I have extra, I will use it to invest in younger people so they can get ahead, too,” he said.
For Yin, being wealthy is not just about luxury or accumulating money, but also about time, freedom, flexibility and meaningful work.
“Many of us value experiences, travel, and the ability to work on our own terms more than just material success,” she said.
Empowered young women
The Juwai IQI insights also noted that Gen Z and Millennial women are more comfortable saving and making their own investment decisions compared to older generations.
Goh said many women her age are already saving and investing early, with some choosing simpler lifestyles or small businesses to gain more control over their time.
Yin added that while financial planning was often left to men in the past, many women today are building their own investment portfolios, buying property, or leading businesses.
She said several of her friends have already purchased their first homes or started side ventures before turning 30.
Ng said he has observed similar traits in his partner, who is also from Gen Z.
“She already has a couple of houses. Women nowadays must have an independent mindset to save and earn their own fortune.
“She invested in property because the tenant does much of the investing for you,” he said.
