Today's generation, the Millennials, don't understand that saving is key when building wealth for long term. They see it as something they will get to, rather that something they need to establish now. Most people often think this way as well. It 's a mentality that we didn't see within the Baby Boomers, but generation X, Y and the Millennials have more of an entitled mentality that is going to leave them wishing they worked a little harder to save now.
Our economy has not instilled this as a priority and thus they will not until we see it as a priority ourselves. In my opinion, we need to be aggressive with wealth building and sharing those secrets with everyone so we find ourselves in a better state. Of course, realistically, not everyone cares about building wealth or helping others. In a perfect world we would not have to sift out those who do from those who don't. But alas, we live in a world with free will and we need to help those who do want a hand up, not a hand out.
What are your thoughts? Do you feel like today's generation has lost sight of saving for retirement? Have they lost sight of saving period? What are some thoughts on how we can spread the word about saving, whether it be for an emergency fund, retirement, vacation or anything else for that matter? I'm interest in seeing your comments below.
