When predicting what retirement will look like for future generations, it’s important not to lump together millennials and Gen Z. Millennials came of age during the Great Recession, while Generation Z is entering the workforce during the Great Resignation, when workers have much more power. Some experts predict the traditional pension may make a comeback. Others suggest that group living among retirees may increase as a way of improving financial security. Still some other experts warn of troubles ahead in the form of lower bond yields, higher tax rates, and reduced Social Security benefits.
Key Takeaways:
- Right now it’s hard to tell, but it probably won’t be the best.
- Gen Z and millennials often get lumped together, but they are different generations.
- Retirement is there, but there are many factors that can make it go away.
“But what does the future hold for young people who are still decades away from their last workday?”
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