Say goodbye to retirement? A 'soft saving' trend is emerging among young people
www.cnbc.com
Generation Z is leading the "soft saving" trend, a new financial approach that prioritizes personal growth and mental wellness over aggressive saving goals.

Traditionally, retiring entails leaving the workforce permanently. However, experts found that the very definition of retirement is also changing between generations.

About 41% of Gen Z and 44% of millennials — those who are currently between 27 and 42 years old — are significantly more likely to want to do some form of paid work during retirement.

…

This increasing preference for a lifelong income, could perhaps make the act of “retiring” obsolete.

Although younger workers don’t intend to stop working, there is still an effort to beef up their retirement savings.

It’s ok! Don’t ever retire! Just work until you die, preferably not at work, where we’d have to deal with the removal of your corpse.

  • Cosmic ClericEnglish
    11•1 year ago

    Generally the people being discussed in this article are not poor and underpaid

    From the article, buried inside of it…

    Additionally, inflation makes it harder for people to cover their expenses or save, Koehler said.

    A report by Blackrock shows that in 2023, only 53% of workers believe they are on track to retire with the lifestyle they want. A lack of retirement income, worries over market volatility and high inflation were some of the reasons cited for a lack of confidence about retirement among workers.

    I know the article insinuates it, but I don’t think we can assume that people can afford more but just don’t want to spend more, to protect their lifestyle.

    I believe it’s more of people want a better lifestyle and they’re not getting paid enough for it, that they’re expecting the same lifestyle that the previous generations had, and are not being selfish and asking for more than others had.