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2 clusters · 24 sources · 3 days · First seen · Last updated

Generation Z retirement savings decline

Overview

A study by People’s Pension in the United Kingdom highlights a decline in retirement savings among Generation Z and Millennials. Driven by a global cost-of-living crisis, a demographic referred to as NERDs (Never Ever Retiring Demographic) expresses the belief that they will never be able to afford retirement.

Research indicates that 47% of Gen Z individuals aged 18 to 27 do not engage in retirement planning. Additionally, approximately 12%—roughly 2.2 million young people—have ceased saving for retirement entirely due to the conviction that they will have to work indefinitely. This shift marks a departure from previous movements like FIRE (Financially Independent, Retire Early), as young people increasingly view traditional retirement and homeownership as unattainable goals.

Entities

Nature Human Behaviour · Kathy Hochul · Justin Phillips · Letitia James · People’s Pension

Timeline

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  2. 8 days ago

    [BUSINESS] 13 sources
    Generation Z retirement savings decline amid cost-of-living crisis

    A growing number of Gen Z and Millennials, known as NERDs, believe they will never be able to retire due to the cost-of-living crisis, leading many to stop saving for the future.

Sources

apach57.fr · de.euronews.com · euronews.net · fehmarn24.de · fraservalleynewsnetwork.com · fsmn.org · healthservicesntx.org · hna.de · kreiszeitung.de · leinetal24.de · localnews8.com · mannheim24.de · markets.businessinsider.com · merkur-online.de · newsday.com · ocsb.ca · op-online.de · portwashington-news.com · pt.euronews.com · sd59.bc.ca · starlingcs.ca · trinidadexpress.com · tz-online.de · tz.de