INSANITY_WOLF_POOPS

Hi, Dr. Cowen. I'm a "millennial" in my early 30s and think a lot of the predictions you make in this book are very persuasive. Like a lot of my peers, I'm actually not averse to greater economic and social dynamism - it's very scary for our Baby Boomer parents, but sounds like opportunity (and social good!) to us. What I want to ask, though, is what do you think this means for wealth/asset generation for our generation?

No one I know believes our Social Security will be funded at 100% when we retire (if it's there at all). None of have pensions. A lot of us have student debt, which makes most of us delay household formation (houses, marriage, babies, etc). Tons of folks I know would love to start businesses, but between debt, rent and cost of living, it's almost impossible to do unless you come from family wealth. And when the Boomers retire/need old age care, most of those costs will inevitably fall to us.

So... what do? Besides political choices, how do I, as a part of the generation who will be most affected by greater disruption over the next 20/30 years, avoid getting screwed?

So, I guess the only realistic option for those of us who want some retirement savings and household formation is to save more?