Newsweek discussed the post that has 16,000 comments with a financial expert, who urges millennials to start saving for retirement as soon as they get a job.
The article from MSN Money discusses how millennials are approaching retirement differently from previous generations, highlighting their unique strategies and concerns. Many millennials are skeptical about traditional retirement plans like 401(k)s due to economic instability, student loan debts, and the gig economy's unpredictability. Instead, they are exploring alternative paths such as investing in real estate, starting side businesses, or even planning to work longer into their later years. Some are also focusing on financial independence through movements like FIRE (Financial Independence, Retire Early), which involves aggressive saving and investing to retire much earlier than the conventional retirement age. The piece also touches on the emotional and psychological aspects, with many feeling the pressure of not being able to afford retirement at all, leading to a shift in mindset towards continuous income generation rather than a complete cessation of work.
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