Mar 26th, 2008
This is pretty apalling
I happened to overhear a conversation the other day between two 30-something guys talking about their jobs. One of them said to the other “I don’t waste money in my companies retirement crap.” A few years ago I wouldn’t have thought twice about it and I would have just gone along on my merry way, thinking about the weather. Unfortunately now, comments like that make my ears bleed. Its a good thing that one of them didnt say “yeah, we’ll live on social security” or else I would probably have created a scene, and no one wants a scene.
Here is the problem in my opinion. Everyone in Gen x, y, z that is of working age has put basically zero thought into what retirement will actually mean. I think instead most of the retirement thinking going on revolves around thinking about laying by a pool in Mexico drinking a pacifico and munching on chips and queso while their yacht is parked nearby. Some might contribute a bit to their 401k, but most dont max company contribution out (only 1 in 7 Gen yers!). Most don’t realize that unless they get on it early the closest they will come to that vision is cleaning that pool, and having a log on the beach to float around on.
If you haven’t maxed out your companie’s 401k match, go do it right now.
