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With fewer company pensions, risinginterest ratesand shifting economic policies on the horizon, younger generations face unique challenges.
Here are the five waysboomers saved for retirementthat wont work for younger generations.
Younger generations must now actively contribute to these plans, choose their investments and manage their portfolios.
The 1970s and 1980s were difficult economic times, with challenges are easily forgotten today.
In contrast, boomers benefitted from higher wages and more affordable living costs during their working years.
In addition, the federal program will only be able to pay 83% of scheduled benefits.
Millennials and Gen Z face added financial strain that reduces their capacity to save for retirement.
Many are forced to prioritize paying off loans or covering everyday expenses.
This trade-off disrupts traditional savings strategies and hinders long-term financial security for younger generations.
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