A recent survey has revealed some worrying trends regarding the retirement expectations of Gen Z and Millennials, with less than 10% confident they will ever be able to retire. Conducted in Australia, this survey indicates a stark divide compared to older generations, highlighting the need for a critical discussion on age inclusion in the workforce.
Source: Human Resources Online
Key Points
- Only 7% of Gen Z and 8% of Millennials expect to ever retire, significantly lower than Gen X and Baby Boomers, at 21%.
- Half of Gen Z workers believe they will need to work until at least 70.
- Despite a desire to retire before 65, many anticipate working into their 70s due to economic pressures.
- A significant 89% of respondents feel employers are reluctant to hire older workers.
- Experts warn that age inclusion is essential not just for fairness but for economic sustainability.
Why should I read this?
If you’re part of the younger generation, this article is a must-read. It shines a light on the shocking realities of today’s job market and the challenges that lie ahead for your retirement plans. Even if you’re not in that age bracket, understanding these trends is vital—it affects how all of us will age in the workforce and the very fabric of our society. Save yourself some time and dive into the details; it’s crucial knowledge for everyone!
