Tag: INVESTOR

Paul Mampilly on Millenial Retirements or Lack Thereof

In the interesting and modern world that we live in today where smartphones Rule and electronic skateboards are starting to make the world look a lot like a scene from The Jetsons, young people born today between the ages of 1981 and 1991 are classified as being a millennial, which is nothing more than a social term for someone in that age group. According to these years, it would put anyone born in those years between the ages of 27 and 37. There is a social stigma that exist today that Millennials and people born it around this time are not good with money. When it comes to money, apparently most millennials have had their backs against the walls and not to their own fault.

Because the value of a bachelor’s degree and four your education has been devalued to the point of otter worthlessness in some cases, saving for retirement is not something that some people are able to do or have you thought about when they are able to do. when Paul Mampilly, a former hedge fund manager and investor, dug into the issue he started with a small social media poll on his account where Paul Mampilly asked other Millennials his age to see if they were saving for retirement. According to his small poll, Paul Mampilly found that 45% of the respondents did save for retirement and 55% did not have anything saved up for retirement.

This is a staggering figure and something that he thought did not represent the entire population of the United States, so he dug a little further and look online to see how many people were actually saving for retirement. It turns out according to the study from the National Institute of Retirement Services that 67% of people do not have retirement for savings! So in an effort to figure a way to best save for retirement, Paul Mampilly asked his aunt what he should do for retirement. She recommended that he find an employer who does 401K matching so that he doubles his chances of having a good retirement.