Monika Raginiak, Campus Representative, University of Minnesota
Right now, I think it’s safe to say that our biggest worries are where the next big party will be, if we’ll pass that next big exam, if we’ll even graduate, and if we’ll find a job afterward. Not that you need more stress, but you should probably be worried about one more thing… Retirement. We all look forward to the day we can travel, lounge, and spoil our grandkids. But are you thinking about how you’re actually going to pay for all of that?
A national poll by Harvard University’s Institute of Politics sought to find how many students are actually worried about Social Security. They found that 70% of college students are somewhat or very concerned that Social Security will not pay out benefits when they retire. To translate, this means that all the money that is coming out of YOUR paycheck is being paid to some old person. And, some day, you will NEVER get that money back.
What they’re finding is that 52% of undergraduates would rather engage in private investment so that the future is in their hands. Surprisingly, 38% are alright with simply waiting it out and risking a payout shortfall. Where do you stand? Are you worried yet?
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