Young people the world over have endured a number of recent events previously considered ‘once in a lifetime’ – This is coupled with the 2008 financial crises, affecting Millennials. Living through such experiences has made many from the Millennial and Gen Z cohort question what their future may hold, and if there will be a future for them at all. As recently reported by the New York Times, in the US are choosing to spend the money they earn in real time instead of letting it accumulate for retirement. Author Anna P. Kambhampaty spoke to a number of younger workers to understand the reasons behind this financial gamble. In the past few years it seems that everything from attending university to paying rent has skyrocketed in price while wages remain stagnant, making it especially hard to save and put money into a pension – and this was even before the Covid-19 pandemic. In a recent survey conducted by the investment management company Fidelity, 45% of 18-35 year olds polled “don’t see a point in saving until things return to normal.” Instead, Kambhampaty says Millenials and Gen Z are more open to spending their earnings in the moment, primarily on passion projects or events involving friends. Waiting until 2050 to access retirement funds is also difficult given young people’s views on global warming. “If you have an apocalyptic vision of the future, why would you save for it? Of course you wouldn’t” financial psychologist Brad Klontz explains. While experts agree the effects of global warming can be slowed down if funding and political action are implemented immediately, this still isn’t enough to get under all 40s to save their money. Many have found that living in the moment is key.