RETP074 Why millennials should be mapping their retirement today (596 words)

An outline of the challenges facing millennials in Australia today, who are trying to plan for their retirement as they battle cost of living rises and other financial headwinds.

While millennials have for decades been treated like ‘the children of Neverland, who never grew up’, reality is fast catching up with this generation, who are now young adults between the ages of 24 and 40.

Like generations before them, they are now buying, or at least trying to buy, homes and starting families of their own. And with this, the stark reality is that their retirement is looming just around the corner in the early years of 2050.

For all too many, planning for their retirement is just something they don’t want to face. But the reality is that the sooner they start ‘mapping’ or preparing for their retirement, the better off they will be.