In the first of our fortnightly series on money management for different generations, it is all about paying yourself first and saving early to benefit from compound interest for Gen Z

When Jack Duffley was only 18, he started investing the few hundred dollars he was earning from a summer internship into a retirement account.

Now 24, Mr Duffley, who lives in Chicago, Illinois, says he began to learn about investing from a colleague in the company’s financial planning department, who spoke to his cohort of interns about how much money they would need to comfortably retire.

Today, he owns two properties – a condominium in Chicago and a home in Indianapolis – and intends to buy another property to add to his portfolio this summer. He also has invested a significant amount in gold and commodity-based stocks.

He allocates about 5 per cent of his portfolio towards speculative bets with high-risk rewards, such as cryptocurrencies. Mr Duffley also keeps some cash in an easily accessible account and has the ability to draw more from debt.

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