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Young people blame climate change for their small 401(k) balances

Discussion in 'Current News & Events' started by redleghunter, May 25, 2019.

  1. redleghunter

    redleghunter Thank You Jesus! Supporter

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    Young people blame climate change for their small 401(k) balances


    Many young people today think civilization may not exist when they’re of retirement age. Here are ways to get them to invest for the future.

    Lori Rodriguez, a 27-year-old communications professional in New York City, is not saving for retirement, and it isn’t necessarily because she can’t afford to — it’s because she doesn’t expect it to matter.

    Like many people her age, Rodriguez believes climate change will have catastrophic effects on our planet. Some 88% of millennials — a higher percentage than any other age group — accept that climate change is happening, and 69% say it will impact them in their lifetimes. Engulfed in a constant barrage of depressing news stories, many young people are skeptical about saving for an uncertain future.

    “I want to hope for the best and plan for a future that is stable and secure, but, when I look at current events and at the world we are predicting, I do not see how things could not be chaotic in 50 years,” Rodriguez says. “The weather systems are already off, and I don’t think it’s hyperbolic to be a little apocalyptic.”

    Mental-health issues affecting young adults and adolescents in the U.S. have increased significantly in the past decade, a study published in March in the Journal of Abnormal Psychology found. The number of individuals between the ages of 18 and 25 reporting symptoms of major depression increased 52% from 2005 to 2017, while older adults did not experience any increase in psychological stress at this time, and some age groups even saw decreases. Study author Jean Twenge says this may be attributed to the increased use of digital media, which has changed modes of interaction enough to impact social lives and communication. Millennials are also said to suffer from “eco-anxiety,” according to a 2018 report from the American Psychological Association, with 72% saying their emotional well-being is affected by the inevitability of climate change, compared with just 57% of people over the age of 45.

    More at link: Young people blame climate change for their small 401(k) balances
     
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  2. FIRESTORM314

    FIRESTORM314 Well-Known Member Supporter

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    Welcome to the information age - wasn't ignorance bliss? ;)
     
  3. WherevertheWindblows

    WherevertheWindblows Well-Known Member

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    Information or DIS-information age?
     
  4. FIRESTORM314

    FIRESTORM314 Well-Known Member Supporter

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    Whatever it is - it's usually always pessimistic
    I guess Good News doesn't sell that well. People like complaining.
     
  5. Gigimo

    Gigimo Well-Known Member

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    I'm wondering if "filial cannibalism" will come back en vogue :scratch:
     
  6. Archivist

    Archivist Senior Veteran Supporter

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    Unfortunately for these folks, Social Security will probably be limited since the baby boomers are rapidly draining the system.
     
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