Jen Sidorova: ‘Millennials need to learn about the pension crisis’
There is an underlying optimism surrounding the millennial generation. We are a generation that has not necessarily been dealt the best cards. We have to fight a tight labor market and carry tons of debt, but unemployment is at an all-time low and the economy is in good standing after we faced a recession during our formative years. So why does Jen Sidorova think that this optimism should be reserved? She is a contributor for Young Voice and a Policy Analyst for the Reason Foundation, and she tells GenBiz and the C-Suite Network that millennials will be OK if they can start planning for their future. A lot of the data surrounding millennial optimism doesn’t add up. This doesn’t mean that no one will live a good life, but we must be strategic if we want to do so. Everyone will have a job with a low unemployment rate, but will everyone be prepared for retirement? The pension crisis is not something many millennials know about, but it is an important part of their future. Sidorova tells GenBiz and the C-Suite Network that public pensions are guaranteed benefits to government employees, and the government is having issues paying for all of the pensions. This will lead to the government trying to find ways to raise money for these programs, meaning more taxes for millennials and job cuts for public employees.
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