There’s a standard joke line every time another problem is blamed on climate change. It’s “climate change: Is there anything it CAN’T do?”
That’s because climate change is blamed for cold weather, hot weather, more hurricanes, fewer hurricanes, and recently, even the exodus of refugees to America (which is usually caused by socialism, but maybe socialism can be blamed on climate change.)
Well, here’s a new excuse for not saving: Young people are blaming their lack of savings on climate change.
They’re bombarded with so many doomsday scenarios about the end of the world in 10 or 12 years that they see no point in saving for retirement.
I’m sure they won’t listen to me, but let me assure them that young people have been fed gloom and doom for decades, and many of them are now retirement age and the world has stubbornly refused to end.
Earlier generations lived through real hardships, like World Wars I and II and the Great Depression.
Since then, each generation has been menaced with possible existential threats (the bomb, overpopulation, terrorism, acid rain, global cooling, global warming, etc.)
I don’t even feel that old, but I’m old enough to have lived through all the post-war apocalypse scares.
Yet I’m still here, and thank goodness I didn’t wail, “What’s the point?” and blow all my money back in the 1980s after reading “The Population Bomb.”
The best lesson to take from all this would be to ignore the people who push “we only have 12 years to live!” hysteria. But if you just can’t stop worrying, then at least be smart enough to hedge your bets. On the slight chance that there might actually be a future for you, put some money aside for it.
As a little incentive, imagine you’d been a young person in the “duck and cover” era of 1955, and even though you were sure you’d die in an A-bomb attack, you still put $10,000 into a fund tied to the S&P 500.
You then just left if there through all the rest of those scares, never investing another cent. Today, you’d be retired, only your prostate might be radioactive, and you’d be sitting on over $2.4 million.
If that doesn’t convince you to save some money for retirement, then I’ll try telling you some really scary stories about the funding for Social Security and Medicare.
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