U.Today – Creator Billy Markus, known as Shibetoshi Nakamoto on social media, took to his X account to share his thoughts on where things currently stand with millennials' retirement savings.
As he often does, Markus added a dash of irony to his take, but that's apparently how he continues to attract the interest of his 2.1 million X followers.
Figures revealed by Markus indicate that millennials' retirement savings are currently far from their target, amounting to approximately .
Markus highlights the main problem with millennials' pension savings
Shibetoshi Nakamoto referred to the statistic that millennials need about $1.65 million for a comfortable retirement, though without citing any reference. He then wryly stated that, so far, they probably haven’t saved much and mentioned the figure of $62,600, perhaps a random or metaphorical choice just to demonstrate that current inflation in the US does not offer the most stimulating environment for regular and substantial retirement savings.
However, Markus added, millennials are planning to retire when they turn 59, posting a “grimacing face” emoji. Considering the statistic that millennials (the generation born between 1981 and 1996) have reached the age of 28 to 43, those born in 1981 or a little later may only manage to save $1.65 million by age 59. This appears to be Billy Markus’ message, which sparked a heated discussion in the comments, with X users posting mixed reactions, from humorously agreeing with Markus’ opinion to sharing arguments on whether millennials will have to retire about 10 years after they turn 59 or with less money saved.
Many also raised the issues of current inflation in the US and growing state debt, which can hardly have a positive financial impact on the average person's bank balance.
Did DOGE founder just allude to Bitcoin?
In his tweet, Markus mentioned the figure of $62,600, which is the value of the world's flagship cryptocurrency, Bitcoin, on Tuesday. Shibetoshi Nakamoto frequently talks about BTC in his tweets, commenting on the turbulence of Bitcoin's price and Bitcoin investment.
Earlier this year, he even admitted that he would rather own a whole Bitcoin than a Dogecoin. So, he could be alluding to BTC and millennials’ love for this new financial technology when he mentioned the sum of $62,600.
This article was originally published on U.Today
