MAY 19, 2022|ECONOMICS & MONEY
Is Saving For Tomorrow Pointless? Many Young People Now Think So.
A recent study by Fidelity showed that nearly half of people aged 18 to 35 “don’t see a point in saving until things return to normal.” More than 55% of all people surveyed said they have put retirement planning on hold. Whether it’s the pandemic, climate change, threat of war or some other reason ... saving for tomorrow has become less appealing than enjoying it while you still can.
These self-described “financial nihilists” are spending on living in nicer places, taking dream vacations and generally enjoying life more. As one standup comedian jokes, “I’m not saving for retirement. I’m going to spend my money now, while we still have a supply chain at all.” The effects of this mindset shift could be seismic, if the rising price of those experiences due to inflation doesn’t get in the way.
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How It All Started
A Short Backstory Of This Blog
This is a blog about non-obvious ideas. Originally launched on the Typepad platform in 2005 as the Influential Marketing blog, the stories at first focused mainly on digital marketing while Rohit worked at Ogilvy Advertising. In 2015 Rohit officially rebranded to the Non-Obvious Insights Blog and published his WSJ bestseller Non-Obvious. For the past twenty one years, this blog has coined new terms, introduced future marketing practices and inspired the next generation of non-obvious thinkers and marketers.
