Like many young adults, Jake Loberg enjoys using his money to have fun and explore the world. But he tries not to go overboard.
“I’m someone who always tries to live in the moment and take things a day at a time, which a lot of times means saying ‘screw it’ and booking a trip on a whim,” the 23-year-old media planner in Fargo, North Dakota, tells CNBC Make It.
“I also know it’s not something I can afford to do on a regular basis, so finding that balance is something I’m still working through.”
Loberg has a way to go before he gets to retirement. But as he watches his parents get closer to the end of their full-time careers, he knows he’ll have to put in a bit of extra effort to ensure he can afford a retirement similar to what they’re planning for themselves.
He’s not alone: 82% of American workers say achieving a comfortable retirement is much harder or somewhat harder than it was for their parents’ generation, according to CNBC’s August 2024 Your Money retirement survey conducted with SurveyMonkey.
