Despite industry best-efforts to get workers enrolled at younger ages, thereby having more years to save, some Millennials aren’t optimistic and have taken to (what else?) Twitter to vent their frustration about their possibilities for—and in—retirement.
Tagged under the #millennialretirementplans, some comments were funny, some bitter, most were cynical, but all had an underlying plea for help.
The generation currently killing chain restaurants, beer, golf, napkins, and many other consumer staple and discretionary products might need another reminder of the estimated million-dollar-plus in added retirement savings from getting started at age 25 as opposed to 35.
Yet most tweeters vented about the futility of retirement saving in the face of what they see as apocalyptic climate change, political corruption, the possibility of Social Security’s insolvency and other doomsday scenarios, as opposed to the challenge of saving for retirement in and of itself.
It provided insight into the millennial mind, their worries, concerns and values, and what advisors can do to better connect.
Here are some of the funny, and insightful, tweets from the younger set about their retirement plans:
Political
From Congressman and former Navy Seal Dan Crenshaw:
“Let’s keep our money instead of letting the government throw it at ineffective entitlement programs. Time for millennials to advocate for sensible entitlement reform, not more tax increases to pay for false promises.”
Progressive
“Vote for Bernie, get 100% of your student debt cancelled, never worry about medical bills with Medicare For All, Run for Something, Help create a government that works for all of us so that nobody has to fear retirement!”
Comedic
In a nod to Chris Farley and Saturday Night Live: “A van down by the river.”
Cynical
“Work yourself to death and you won’t have to worry about retirement.”
Practical
“Moving from mom’s basement to mom’s couch.”
Entrepreneurial
“Own [an] Avocado Toast Farm.”
Technical
“Pokémon GO retirement resort Miami Florida.”
Radical
“Join Antifa for the healthcare plan.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
