• Flying Squid@lemmy.world
    link
    fedilink
    arrow-up
    10
    arrow-down
    2
    ·
    1 year ago

    A recent study by Fidelity Investments found that 45% of people aged 18 to 35 “don’t see a point in saving until things return to normal.” In that same age group, 55% said they put retirement planning on hold during the pandemic.

    Who are all these 18-35 people who have retirement plans? Where did they poll these people from?

    • a lil bee 🐝@lemmy.world
      link
      fedilink
      arrow-up
      9
      arrow-down
      1
      ·
      1 year ago

      I mean, I’m one of them. There is a pretty significant number of 25-35 years old professionals who start banking into retirement almost immediately.

            • a lil bee 🐝@lemmy.world
              link
              fedilink
              arrow-up
              5
              ·
              edit-2
              1 year ago

              Absolutely. Any corporate employer is going to auto-enroll you into setting up and paying into a retirement account. Any post-college age group is going to have similar numbers. That would be my guess anyway.

              • Flying Squid@lemmy.world
                link
                fedilink
                arrow-up
                2
                arrow-down
                2
                ·
                1 year ago

                I would absolutely like some evidence that 55% of people 18-35 have retirement savings beyond this poll.

            • odium@programming.dev
              link
              fedilink
              arrow-up
              4
              ·
              edit-2
              1 year ago

              In the US at least, many large employers automatically create 401ks or IRA’s for their employees and contribute a portion of your paycheck to it.

              After I graduated college, my first job created a 401k and started putting 1% of my paycheck into it without telling me. The job didn’t let me set it to 0%, forcing me to research 401ks and retirement planning. This led me to raise it to 15% and start investing.

              • Flying Squid@lemmy.world
                link
                fedilink
                arrow-up
                2
                arrow-down
                2
                ·
                1 year ago

                Okay, but come on, 55% of people that age have a 401k or IRA? How many people under 30 even have a job that pays well enough to offer that sort of benefit? Jobs pay shit these days.

                • a lil bee 🐝@lemmy.world
                  link
                  fedilink
                  arrow-up
                  4
                  ·
                  1 year ago

                  I think you’re really underestimating how many 25-35 year olds work for large corps. And you’ve got it reversed. The big corp jobs are the only ones paying wll enough to escape that treadmill. Sucks, I would love to work for some local mom and pop, but FAANG can double or triple the salaries of what they can offer. Most of my peers that I have talked to are in a similar boat.

                  And again, we all get retirement accounts in the first couple of weeks of employment. That’s been the case since I worked at comparitively much smaller companies even.

    • BraveSirZaphod@kbin.social
      link
      fedilink
      arrow-up
      2
      arrow-down
      1
      ·
      1 year ago

      Pretty much everyone I went to college with, though I won’t pretend that’s a representative sample at all due to the college in question.

      Still, there’s a lot of tech and finance workers out there.