STOP Saving Money If You're Young

"they found that more than half of our younger population today have stopped saving for retirement Fidelity asked 2600 people and roughly 55 of those polled both gen Z and Millennials between the ages of 18 to 35 said that they stopped saving for retirement since the start of the pandemic and roughly 45 percent of those people polled said they wouldn't start saving again until things quote returned back to normal"

"the life cycle hypothesis and what this is is it's a theory that was developed in the 1950s that's used to describe how people like to spend and save their money throughout the different phases of their lives"

"the author argues that passive Savers are not building a habit of saving money because they were forced to save therefore most people won't choose to start saving for retirement until a later phase in life and the age of roughly 35 when they start making more and they can catch up without a change to their lifestyle"

"the calculation shows that after 49 years of doing this you would end up with a super juicy portfolio of 3.9 million dollars"

"the calculation shows that after 32 years of doing this your portfolio would end up being roughly 1.7 million dollars"

"that is still more than two million dollars less"