Paul Mampilly: Retirement Amongst Millenials

Today’s world is an exciting in Brave New Frontier where Electronics rule everything. Children today are growing up with smartphones and electronic skateboards and online social media and things which look straight out of a scene from The Jetsons, the classic cartoon from the 1960s. Though there is a lot of innovation and excellent things going on in the world, many younger Generations are getting the boot after years and years of hard labor and study. There is such extreme competition in the educational world that some people’s degrees do not amount to anything anymore and they are not able to find jobs after spending tens of thousands of dollars in debt.

Paul mampilly is a former hedge fund manager and investor, and she decided to post this question to his Social Media Group and see what amount of his friends have saved any for retirement at all. What he found was shocking and surprising to him, which is that 45% of his friends have saved up for retirement while 55% have nothing at all. Then being shocked by these findings, Paul mampilly decided to find the official numbers from a national survey and see how that compared to his small pool of respondents.

Paul Mampilly found that 67% according to the National Institute of Retirement services do not have anything saved for retirement! Frustrated and shocked by his findings, Paul Mampilly contacted his and to ask what the best route was Ford in order to create a better retirement for his friends. Her response was that the best way forward is to find an employer who does 401K matching, meaning that whatever money they put towards retirement the employer will give them that same amount for free. Owning an employer who does 401K matching is not always easy in lesser populated areas, and some people may have to move to cities where this is more prevalent.

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