Social Media Means
Social Media Means
Photo: RODNAE Productions
By the numbers: 43% of Gen. Z workers (people up to 25 years old) plan to retire before age 65, according to a Harris Poll conducted on behalf of the Transamerica Center for Retirement Studies. Not surprisingly, expectations get less optimistic with each successive generation.
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C-level, also called the C-suite, is a term used to describe high-ranking executive titles in an organization. The letter C, in this context,...
Read More »Younger generations of Americans have visions of early retirement, but what that actually means is an evolving concept. Why it matters: “You’re looking at a generation that’s thinking in a much more agile way,” The Harris Poll CEO John Gerzema tells Axios. By the numbers: 43% of Gen. Z workers (people up to 25 years old) plan to retire before age 65, according to a Harris Poll conducted on behalf of the Transamerica Center for Retirement Studies. Not surprisingly, expectations get less optimistic with each successive generation. 37% of Millennials (age 26-41) — many of whom are more likely by now to have seen the realities of a retirement account — said they expect to retire before 65. Generation X (42-57) came in at 24%. The big picture: Gen Zers' expectations for early retirement may have less to do with overly confident financial projections, however, and more to do with a fundamental shift in attitudes about what work — and therefore retirement — really is. Younger people, including 41% of Gen Zers, are significantly more likely to dream of paid second acts in retirement, the survey found. What they're saying: “When you ask a young person about retirement and you ask an older person about retirement, they’re thinking about two fundamentally different things,” Northwestern Mutual executive vice president Christian Mitchell tells Axios. “Retirement may be a second career, retirement may be doing more gig work, retirement may be working for a nonprofit. They’re thinking about it in more nontraditional ways.” Yes, but: There are also some potential red flags between now and retirement, whatever it means, for Gen Z. For one, they are more likely than other generations to embrace alternative assets, such as crypto and NFTs. Their path to financial independence in their 60s is off to a rocky start, weighed down by recent stock market losses, cryptocurrency’s winter and the continued burden of student loans. Meanwhile, 79% of people ages 18-24 say high inflation and market volatility "has significantly increased" their "financial stress," compared with 59% of ages 65 and up, according to HR consultancy Mercer's recent Inside Employees' Minds research. Only 35% of Gen Zers say that saving for retirement is a financial priority for them, compared with 48% of millennials and 66% of Gen Xers, according to The Harris Poll.
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Read More »Alexandr Wang As a kid, Alexandr Wang was a math whiz who liked participating in national math and coding competitions.
Alexandr Wang had started Scale AI at 19 and now, after a $325 million funding round last year valued Scale AI at $7.3 billion. (Image credit: @alexandr_wang) As a kid, Alexandr Wang was a math whiz who liked participating in national math and coding competitions. At 25, he is the world's youngest self-made billionaire and his company uses artificial intelligence to analyse how much damage Russian bombs are causing in Ukraine. Scale AI, Wang’s six-year-old San Francisco–based company already has three contracts worth $110 million to help America’s Air Force and Army employ artificial intelligence (AI), Forbes reported. Scale AI’s technology works much faster than human analysts to examine satellite images and is useful not just for the military. According to Forbes, over 300 companies, like Flexport and General Motors, use Scale to help retrieve information from raw data such as, say, raw footage from self-driving cars or millions of documents. “Every industry is sitting on huge amounts of data,” Alexandr Wang told Forbes. “Our goal is to help them unlock the potential of the data and supercharge their businesses with AI.” He had started the company at 19 and now, after a $325 million funding round last year valued Scale AI at $7.3 billion, the Forbes report stated. In it, Wang’s estimated stake of 15 per cent is worth about $1 billion, making him the world’s youngest self-made billionaire.
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The most important thing in life is one's pleasure and life satisfaction; nevertheless, we often compare our lives to those of others on social...
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