What Retirement? Gen Zers Expect to Work Past Age 65

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Generation Z, those born between 1997 and 2012, are redefining the concept of retirement, with many opting to work beyond the traditional age of 65. A recent survey by Nationwide revealed that over a third of Gen Zers believe that the standard retirement age no longer applies in today’s economy. Nearly half of them plan to continue working past 65, citing the flexibility of remote work as a key factor in their decision.

Kristi Martin Rodriguez, from the Nationwide Retirement Institute, noted that recent market volatility has contributed to Gen Z’s pessimism about their financial futures. The survey also highlighted immediate financial concerns among Gen Z, with a significant portion worried about affording monthly bills and prioritizing debt repayment.

While some Gen Zers are motivated to spend more on non-essentials due to doubts about attaining retirement, others are taking proactive steps to secure their financial future. The survey indicated that Gen Z is more likely to embrace unconventional financial tools, such as cryptocurrencies, over traditional retirement accounts.

As older Americans also delay retirement due to financial uncertainties, Gen Z’s approach to retirement planning stands out for its unconventional strategies. Rodriguez emphasized the importance of starting to save early to leverage the power of compounding interest.