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Young people now days unfortunately, are busy trying to find a good job, then make enough money to get the car, apartment, pay the insurance for the car, eat, buy clothes then budget to have enough money to make it to the next paycheck.
When do they start saving for retirement? By the time most of them do, they are in their 50’s, no longer feeling as if they will live forever and never get ill.
The old days of long term factory or company jobs are scarce now, I remember it was the norm to work for one company until retirement for many. The falling tax revenue takes many city, county and state jobs to the position of cutting back on benefits and retirement gaurentees.
Studies show that 1/3 of young people 25 and under are not contributing to their companies’ retirement plans, for the ones that do, only 4% put in the maximum. Among 26 to 40 year-olds, only 40% are even contributing to tax-advantaged IRA: (Charles Schwab)
I think it just takes too much of the check to make it in life.
More and more young people are moving back home with mom and dad, unable to make it on their own. I know many here on the MOC forum have their kids back home, or, never able to leave.
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