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EARLY CAREER

Can younger generations afford retirement?

FEBRUARY 11, 2022

One positive to arise from the global pandemic is the engaged approach taken by the younger generations when it comes to retirement savings.

Generation Z (ages 18-23) and Millennials (ages 24-40) often are labelled as poor money managers. They’re saddled with debt – student loans, car payments and other self-inflicted debts - and have little concern with paying it off.

That’s not an ideal recipe for a comfortable retirement.

Though the widespread uncertainty precipitated by the ongoing pandemic may have helped shift a focus on saving and spending habits.