In today’s modern world and age, people born between the years of 1981 and 1991 are considered to be under the term millennial. This will put their age anywhere between 27 and 87. when it comes to money, apparently most millennials do not have the opportunities that their parents had and therefore they are not able to put their money where their mouth is, according to former hedge fund manager and investor Paul mampilly.
In an age where education has become more commonplace and a four-year degree from an accredited University is nothing special anymore, an entire generation has been devalued and diluted to the point where they have to compete very heavily for a simple entry level position. Many students graduate with a four-year degree and are not even able to use the degree in their field of study. So Paul mampilly decided to pose a question on is social media feed, just posting a simple question to a very small pool of respondents.
What Paul Mampilly found in response was that 45% of is friends did not invest in their future at all in terms of retirement accounts, while 55% did. the majority of Paul Mampilly is friends, which were mostly millennials, had no retirement fund and this shocked him. So he dug a little more into the research and found out according to the National Institute on retirement security, 67% of Millennials do not have a 401k. Wondering how the entire 401K situation worked, but Paul asked his aunt for advice and she noted that he should find a company who would match his 401k contributions as that is the best way forward for any Millennial wishing to secure their future in a more conducive way to retirement that will not stretch the bounds of imagination or a employer needs.