Gen Z Rejects Retirement Norms, Embraces 'Soft Saving' Trend

Gen Z is embracing the trend of "soft saving" as they face financial challenges such as high living costs, lower wages, and student loan debt. Many young adults feel discouraged and are hesitant to set long-term financial goals, with two-thirds believing they may never have enough money to retire. Instead of cutting expenses, Gen Z prioritizes a better quality of life over saving. However, financial experts emphasize the importance of having an emergency fund and taking advantage of compound interest. Starting early and contributing to retirement accounts, even in small amounts, can lead to significant growth over time.