The test of time

Elliot Chan

Opinions_retirement

Longer life expectancy means less financial stability in the latter years

By Elliot Chan, Opinions Editor

For those still in their roaring 20s, let’s think longterm for a moment—say, 40 years from now. The world has changed and so have you. You have a family, a mortgage, car payments, a stable job, ailing parents, credit card debt, medical bills, and multiple other financial responsibilities to worry about, yet retirement is around the corner. You ask yourself, “Am I ready for it? Have I saved enough? Or will the next 20 years be as gruelling as the first?”

Don’t act so surprised when I tell you that most millennials aren’t thinking about retirement—not because they don’t want to, but because they might not get one. We have been crippled by so many different factors, including increased taxes and cost of living, disappearing pensions, high educational debt, and a competitive job…

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