Millennial, generic
Is there light at the end of the tunnel? Image Credit: Pixabay

Who wants to work forever? With morose posts full of doom and gloom, Twitter-using millennials have been expressing their fear of what comes after office life. Using the #millennialretirementplans, they’ve been discussing the once-thought-to-be golden years.

The cloud of despair is a while off. The term millennials refers to those born between 1980 and 2000, so they are at most 37 years old; the average retirement age globally is 66 and increasing every year.

To get a glimpse into how UAE-dwellers fare on this spectrum of future distrust, we asked a few local millennials about what they think about retirement. Here’s what they had to say.

I want an early retirement but with my spending habits, I don’t think I'll even have the luxury of retiring at all 😂
And I don’t think I'll ever be comfortable with any amount I save up because I'll always think it's not enough. I believe the security of a steady monthly income has made it difficult for me to imagine living off a pool that might eventually run out. I just hope I'm smart enough to invest in something down the line. I don’t really see any other way of retiring comfortably in today's day and age.

- Hiba Hani, Emirati, 27

To be honest I don’t think I’ve given my retirement much thought. When I started working at the age of 20 my parents pushed me to get some life insurance knowing full well that in case I wasn’t able to save much, I would at least have a chunk of money that would accumulate over time that I could rely on. But I save more for the near future like 5 years down the line, rather than for retirement. Indians are big on life insurance and buying property etc. and they use that as means of support after retirement.

- Danielle Ferns, Indian, 27

I’m not worried about future retirement as I actually enjoy work, but I do worry about saving enough to be able to quit my job and start my own thing. I feel like there’s no definitive line on how much savings is actually enough to be able to quit your full time job and do your own thing. I find that it’s a challenge to save money mostly because of rent costs. I think the only way to save would be to buy a small apartment at some point so that can alleviate the rent costs...but then again buying will drain your savings so I guess it depends on a case by case basis.

- Lara Geadah, Lebanese, 24

I definitely have yet to even begun to think about my retirement. No I don’t expect to save enough for retirement, because I don’t know how realistic that is. I think the key is to find new, sustainable revenue streams you can rely on. That combined with whatever I save should eventually suffice.

- Khalid Walid Saleh, 28, Palestinian-American

I am kind of worried about retirement but not really. It’s not my priority right now. But I don’t think I will have enough saved to retire early - I hope I do. I’m definitely going to try but unless I open a business here and get myself some side income, I don’t see how it would happen.

- Menna Fahmy, Emirati, 26