Oh millennials. Always good for a chuckle. They’ve pushed some pretty radical and ridiculous beliefs over the years, and now, almost suddenly, they’ve started to lean a lot farther to the right. Somehow, they’ve gone from living with their parents into their 30s to expecting to retire at the age of 56. That seems like a pretty dramatic change. Is it another example of their lack of realism, or is something else at play here?
It would be easy to just throw some more jokes at them and move on, but this represents something important. Millennials have been the most pessimistic generation since before WWII. Hitting the workforce in the midst of a terrible recession can do that. But, the fact that they have switched from believing the economy will never recover to anticipating retiring early represents a shift in optimism.
While many millennials would rather die than admit it, they believe in Trump’s economy. Seeing that finances actually can flourish when a competent person is at the helm has let them see that opportunity still exists, and they can succeed.
That said, retiring at 56 is still overly optimistic. It’s great to see a little optimism from the generation riddled with student loan debt, but considering how poorly they have begun adulthood (on average), it might be difficult to imagine the bulk of them retiring nine years earlier than the boomers.
We’ll see what happens, but until then, you have this video. It’ll show the full breakdown of millennial expectations and why this shift is worthy of your attention.