Paul Mampilly is an ex hedge fund manager and investor who was wondering about the state of other Millennials after looking around at the landscape. Because after all, we currently live in a world today where crazy and outlandish technologies exist: Anything is possible. Money can be transferred via Bitcoins, the digital currency which is unseesn. People walk around holding electronic devices and glued to the social networks. Where they drive electric cars powered by the sun in some cases and ride electric skateboards that require zero effort to exert.
It is truly a scene straight out of the Jetsons or some other futuristic cartoon, nevertheless Paul Mampilly didn’t want to get to the bottom of how many of his friends were secure for their retirement or who were starting to save for retirement at least. What do you found was at 45% of his respondents in his social media survey, but a little issue. What he found was that according to the National Institute of Retirement Services, a whopping 67% had no savings! The nirs defines a millennial As someone born between the years of 1981 and 1991, which puts them right now between the ages of 27 and 37 years old.
Accordingly, the response from his online survey were generally within the ballpark of the findings of the national survey, but either way as a whole the situation looks very bleak and so Paul Mampilly wanted to do something to help his friends and figure out the best way to help them. Asking around, Paul mampilly found that within his family, his aunt had a solution to the problem. His aunt recommended that he should find an employer with 401k matching so that whatever money he socked away for retirement, the employer would freely give that same amount towards his or her retirement.