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The truth about millennials and money is complex.

Millennials face different economic challenges than older generations did. I can speak from experience. Pensions feel like unicorns to us, and most of us live with a little monster called student debt on our backs that eats away at our paychecks. As a result, we have different financial priorities and goals, especially when it comes to retirement.


I would probably be less surprised if I came across this scene in a verdant pasture than if I saw a job posting with "pension plan" among the benefits. Painting by Domenichino, via Wikimedia Commons.

Admittedly, many millennials don't think hard about retirement at all. In fact, a recent study found that only 29% of millennials are "actively planning" for retirement ... but the real question is why. Why don't millennials think about retirement? And are we going to be stuck in cubicles until we're in our 80s?

Here's what the facts say.

Things may not be as bleak as they seem. GIF from "The Simpsons."

1. It's true: Millennials are not on track to cover our expenses in retirement.

When millennials think about retirement, they seriously lowball the amount of money they expect to spend, according to the Insured Retirement Institute and the Center for Generational Kinetics. Most millennials expect to spend $36,000 per year, but the average retired person actually goes through more like $47,000.

Another dicey finding from this study? Almost a quarter of millennials think they're going to bankroll their retirement years through the lottery or financial gifts. Yikes.

2. At this rate, many millennials will probably have to delay retirement, which means (in some cases) working until age 75.

A lot of millennials aren't planning to save for retirement until they've paid off their student loan debt, which can take a decade or more.

And it's more than just retirement that's getting delayed. In fact, one-third of recent graduates are saying that they're planning on living at home right after graduation so they can start paying it back. It's a domino effect that delays all sorts of life decisions, like getting married or buying a house.

Photo via 401(K) 2012/Flickr.

3. But more millennials are saving a decent amount of money — and sooner than their parents.

Last year, one survey found that about 56% of millennials are saving at least 5% of their income, which is 6 points higher than the year before! And other research has found that this generation began saving at a median age of 22, which follows a downward trend — reports show Gen X started around 27 and boomers at 35.

4. Plus, Americans in general (not just millennials) are planning to retire later.

In fact, the lack of focus on retirement might have more to do with a switch in mindset than a lack of financial knowledge.Stats show that the number of non-retired people who say they plan to retire after age 65 has grown from 14% in 1995 to 31% in 2009 and 37% in 2015. The expected age at retirement has been creeping up for a while.

Nary a latte in sight. Photo by ITU Pictures/Flickr (altered).

When most millennials entered adulthood, the economy was collapsing, the job market was super bleak, and the housing crisis was in full swing.

So while the majority of millennials appear to be pretty good at saving money when they can, the context is important. In general, millennials tend to avoid investments because the stock market seems like a house of cards, and the job market still feels fairly tenuous.

Millennials do, in fact, have financial priorities. But for most of them, there's a generational switch going on: Quitting work for the last couple decades of their lives isn't at the top of their priority list. Most 20-somethings are taking advantage of 401(k)s when they can, but they're also saving their money for meaningful experiences — like travel — because they'll be satisfied by a "semi-retirement."

You can't do this with an IRA. GIF from "Mad Men."

Since millennials are incredibly committed to finding jobs that they're passionate about, working past age 65 doesn't seem so bad.

Pop Culture

Artist uses AI to create ultra realistic portraits of celebrities who left us too soon

What would certain icons look like if nothing had happened to them?

Mercury would be 76 today.

Some icons have truly left this world too early. It’s a tragedy when anyone doesn’t make it to see old age, but when it happens to a well-known public figure, it’s like a bit of their art and legacy dies with them. What might Freddie Mercury have created if he were granted the gift of long life? Bruce Lee? Princess Diana?

Their futures might be mere musings of our imagination, but thanks to a lot of creativity (and a little tech) we can now get a glimpse into what these celebrities might have looked like when they were older.

Alper Yesiltas, an Istanbul-based lawyer and photographer, created a photography series titled “As If Nothing Happened,” which features eerily realistic portraits of long gone celebrities in their golden years. To make the images as real looking as possible, Yesiltas incorporated various photo editing programs such as Adobe Lightroom and VSCO, as well as the AI photo-enhancing software Remini.

“The hardest part of the creative process for me is making the image feel ‘real’ to me,” Yesiltas wrote about his passion project. “The moment I like the most is when I think the image in front of me looks as if it was taken by a photographer.”

Yesiltas’ meticulousness paid off, because the results are uncanny.

Along with each photo, Yesiltas writes a bittersweet message “wishing” how things might have gone differently … as if nothing happened.
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All images provided by Adewole Adamson

It begins with more inclusive conversations at a patient level

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Adewole Adamson, MD, of the University of Texas, Austin, aims to create more equity in health care by gathering data from more diverse populations by using artificial intelligence (AI), a type of machine learning. Dr. Adamson’s work is funded by the American Cancer Society (ACS), an organization committed to advancing health equity through research priorities, programs and services for groups who have been marginalized.

Melanoma became a particular focus for Dr. Adamson after meeting Avery Smith, who lost his wife—a Black woman—to the deadly disease.

melanoma,  melanoma for dark skin Avery Smith (left) and Adamson (sidenote)

This personal encounter, coupled with multiple conversations with Black dermatology patients, drove Dr. Adamson to a concerning discovery: as advanced as AI is at detecting possible skin cancers, it is heavily biased.

To understand this bias, it helps to first know how AI works in the early detection of skin cancer, which Dr. Adamson explains in his paper for the New England Journal of Medicine (paywall). The process uses computers that rely on sets of accumulated data to learn what healthy or unhealthy skin looks like and then create an algorithm to predict diagnoses based on those data sets.

This process, known as supervised learning, could lead to huge benefits in preventive care.

After all, early detection is key to better outcomes. The problem is that the data sets don’t include enough information about darker skin tones. As Adamson put it, “everything is viewed through a ‘white lens.’”

“If you don’t teach the algorithm with a diverse set of images, then that algorithm won’t work out in the public that is diverse,” writes Adamson in a study he co-wrote with Smith (according to a story in The Atlantic). “So there’s risk, then, for people with skin of color to fall through the cracks.”

Tragically, Smith’s wife was diagnosed with melanoma too late and paid the ultimate price for it. And she was not an anomaly—though the disease is more common for White patients, Black cancer patients are far more likely to be diagnosed at later stages, causing a notable disparity in survival rates between non-Hispanics whites (90%) and non-Hispanic blacks (66%).

As a computer scientist, Smith suspected this racial bias and reached out to Adamson, hoping a Black dermatologist would have more diverse data sets. Though Adamson didn’t have what Smith was initially looking for, this realization ignited a personal mission to investigate and reduce disparities.

Now, Adamson uses the knowledge gained through his years of research to help advance the fight for health equity. To him, that means not only gaining a wider array of data sets, but also having more conversations with patients to understand how socioeconomic status impacts the level and efficiency of care.

“At the end of the day, what matters most is how we help patients at the patient level,” Adamson told Upworthy. “And how can you do that without knowing exactly what barriers they face?”

american cancer society, skin cacner treatment"What matters most is how we help patients at the patient level."https://www.kellydavidsonstudio.com/

The American Cancer Society believes everyone deserves a fair and just opportunity to prevent, find, treat, and survive cancer—regardless of how much money they make, the color of their skin, their sexual orientation, gender identity, their disability status, or where they live. Inclusive tools and resources on the Health Equity section of their website can be found here. For more information about skin cancer, visit cancer.org/skincancer.

via Dion Merrick / Facebook

This article originally appeared on 02.09.21


At 1:30 am on Monday morning an AMBER Alert went out in southern Louisiana about a missing 10-year-old girl from New Iberia. It was believed she had been kidnapped and driven away in a 2012 silver Nissan Altima.

A few hours later at 7 am, Dion Merrick and Brandon Antoine, sanitation workers for Pelican Waste, were on their daily route when they noticed a vehicle that fit the description in the alert.

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Joy

Nurse turns inappropriate things men say in the delivery room into ‘inspirational’ art

"Can you move to the birthing ball so I can sleep in the bed?"

Holly the delivery nurse.

After working six years as a labor and delivery nurse Holly, 30, has heard a lot of inappropriate remarks made by men while their partners are in labor. “Sometimes the moms think it’s funny—and if they think it’s funny, then I’ll laugh with them,” Holly told TODAY Parents. “But if they get upset, I’ll try to be the buffer. I’ll change the subject.”

Some of the comments are so wrong that she did something creative with them by turning them into “inspirational” quotes and setting them to “A Thousand Miles” by Vanessa Carlton on TikTok.

“Some partners are hard to live up to!” she jokingly captioned the video.

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