Billy Markus Highlights Major Issue With Millennials\' Pension Savings

Shibetoshi Nakamoto dwelled on the statistic that millennials need approximately $1.65 million for a comfortable retirement

Dogecoin creator Billy Markus, also known as Shibetoshi Nakamoto on social media, shared his thoughts on the state of millennials’ retirement savings.

Markus, who is known for his ironic takes on various topics, shared a statistic that highlights a major issue with millennials' pension savings.

Taking to his X account, Markus shared figures that show millennials are aiming to retire by the age of 59. However, the figures also indicate that they have only managed to save approximately one Bitcoin towards their retirement.

According to Markus, millennials will need about $1.65 million to retire comfortably. However, the figures he shared suggest that the average millennial currently has about $62,600 saved towards their retirement.

The Dogecoin creator did not cite any references for the statistics he shared. However, the average 401(k) balance for millennials is $34,400, and the median balance is $18,400, as reported by CNBC.

Markus's tweet sparked a discussion in the comments section, with X users sharing mixed reactions and engaging in debates about the topic. Some users agreed with Markus's take on the matter, while others shared arguments about the possibility of millennials retiring later than 59 or with less money saved.

Many also highlighted the impact of current inflation in the U.S. and the growing state debt on average people's finances.

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