January 28, 2023

How to help Millennials plan their finances independently

Millennials (1995-1981) can plan to welcome old age independently based on health, financial, mental and social preparation.

According to research on the younger generation of Eventbrite, 75% of Millennials in Vietnam care and put their own experiences first. This is different from the thinking of Baby Boomers (1946-1964) and Generation X (1965-1980). Most of these people have the notion that old age is when they live with their children, stay at home to take care of their children, or settle down and accept little opportunity to enjoy life’s joys.

Therefore, in order to fully enjoy life in old age, Millennials can change their minds to live with passion, enjoy the joy of their age and plan to act now. To do this, young people are always prepared in many different aspects. Research Readiness for independent living in old age” of Prudential in collaboration with the Institute of Medical and Sociological Research (ISMS) and the Institute of Labor and Social Sciences (ILSSA) pointed out four issues a person needs to pay attention to to prepare for an independent old age, including: finances. , physical health, mental health and social cohesion.

Being well prepared for the 4 aspects of life will help the young generation have an independent and happy old age. Image: Freepik

In terms of finance, in addition to maintaining the method of “accumulating small to large” or applying the rules of saving finance, participating in investments in different fields helps young people have stable incomes. In terms of social cohesion, spending time with family, building relationships with those around you through daily activities and social activities is an effective solution to an independent old age. In addition, in terms of health, everyone should ensure that they eat and exercise scientifically to maintain stable health. Finally, to ensure a clear and refreshed mind when working and resting, young people can get enough sleep and stay away from stimulants and toxic substances.

The reality of today’s life with pressures and worries makes people who have just reached the 30th mark but have faced old age in their souls. Pressure makes them unable to enjoy every moment and live fully for the present, but always in a state of worry and looking to the future. In the opposite direction, there are still people who are past the age of sixty but can still enjoy life, adventure and explore the world like young people in their twenties. This proves, age is not a barrier that makes people give up the pleasures in life.

In the present life, many people cannot fully live every moment, always have to worry about the future.  Photo: Freepik

In the present life, many people cannot fully live every moment, always have to worry about the future. Image: Freepik

In order to help people, especially Millennials, prepare a clear, thoughtful and thorough plan as well as practical actions for an independent and happy old age, Prudential Vietnam will organize a Professional Seminar. Aging Summit 2022 on November 29 with the theme “Aging Population: Opportunities and Challenges for Millennials”.

The program will provide an overview of the challenges facing young society, the opportunities they can seize in the mainstream, thereby encouraging them to prepare and act for the present and future. Readers can follow the Aging Summit 2022 Symposium with the theme “Aging Population: Opportunities and Challenges for Millennials” at VnExpress Fanpage and VnExpress newspaper website at 8:30 a.m., November 29.

Hong Thao


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