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Next Avenue: Millennials are letting social media ruin their retirement

By MarketWatch

They are constantly faced with financial detours, like $15 martinis and $10 quinoa saladsRead full story

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  • Syed Abbas
    Syed AbbasProject Coordinator - Business Analyst

    Millennial generation generally is living two living.

    The real life in which the reality is harsh and they have to deal with the daily realities. Manage their budgets, pay bills and then deal with the personal issues. On the other hand is their digital life.

    The digital life is like an illusion. One can portray that they’re living the life when in reality they might be struggling to pay bills. The filters we have available at our disposal allow us to photoshop edit our lives. So much so that we

    Millennial generation generally is living two living.

    The real life in which the reality is harsh and they have to deal with the daily realities. Manage their budgets, pay bills and then deal with the personal issues. On the other hand is their digital life.

    The digital life is like an illusion. One can portray that they’re living the life when in reality they might be struggling to pay bills. The filters we have available at our disposal allow us to photoshop edit our lives. So much so that we sometimes forget who we really are. The digital life also create competition in a way. Individuals have to keep up with the others so that they do not fall behind. In doing so, one could spend hundreds of thousands per month just so that they can keep up with their peers. Once an individual starts getting likes and thumbs up, it’s all worth it for them. What happens is that it is like an approval where your peers approve that you are living the life and they in return post their pictures of adventures and materialistic items to show that they too are keeping up to the expectations and social norms. This competition could have no end in sight as each time there is a pressure to keep up. If you’re unable to keep up, you are forgotten. You’re a nobody.

    The consequences of this are too many and harsh. The real life suffers due to the imaginary digital image that one creates to keep up with the competition. Don’t know how it all happened, but these days the life is such and there’s no way we can tell how it will be in the upcoming years.

  • Max Lockie
    Max LockiePlatform Editor at Quartz

    I know it's not popular to say this (and with good reason...the precarity of my generation is an unfortunate hand me down from the political, social, and economic policies of older Americans), but there's some truth to this argument.

    In my social circles there's an imperative to go out for a meal at least once a day and to constantly attend events. It adds up.

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