Latest news with #GenAlphas
Yahoo
3 days ago
- Business
- Yahoo
As boomers are forced to ‘unretire' because they've not saved enough, 6-year-olds in Germany could soon have retirement accounts
Millions of baby boomers are being forced out of retirement, having realized their nest eggs don't quite make ends meet. With people living longer than ever, the issue will only get worse. So Germany is considering preparing Gen Alphas for the decades they'll one day be retired, with an 'early start pension' plan. After having a brief taste of retirement, a sizable chunk of Gen X and baby boomer retirees are dusting off their suits and returning to work instead, having not saved up enough to kick up their feet in the current climate. It's a fate that Gen Alpha in Germany may never have to face. That's because children as young as 6 could start saving for retirement, under new plans. As per a report from CNBC, Germany's coalition government has proposed an 'early start pension'—a retirement program designed for children between 6 and 18 years old. Unlike your regular pension pot, which requires putting aside a portion of your salary for your future self, the country's government would pay out 10 euros ($11) a month to children in education under this new plan. Over 12 years of eligibility, this could accumulate to more than 1,440 euros per child, not counting the potential investment gains from compounding interest over the decade. Then, from the age of 18 onward, they can add personal funds to the accounts and enjoy tax-free profits. However, that cash will become accessible to account holders only when they reach retirement age—which is currently set at 67 in Germany. 'The government plans to strengthen the state pension as well as reforming company pension schemes and private pensions,' a spokesperson confirmed the plans to Fortune. 'As one project, the so-called early start pension aims at offering young people perspectives for fund-based private pensions.' People are working well beyond retirement age globally. They're living longer than expected, caring for both their elderly parents and Gen Zers, and wanting to enjoy the fruits of their labor with lavish vacations instead of pottering around. It's why the number of those who have continued to work past 65 in the U.S. has quadrupled since the 1980s, according to the Pew Research Center. Now, almost 20% of Americans 65 and older are employed. That's around 11 million people and nearly double the share of those who were working 35 years ago. In the U.K., nearly 20% of baby boomers and late Gen Xers are similarly 'unretiring'—or planning to, because their retirement desires don't match up to the nest egg they've built. It's why it's never too soon to start retirement planning. The renowned financial expert Suze Orman previously highlighted that Gen Z and millennials could indeed retire as millionaires if they make the most of compound growth while they're young. She used just $100 to highlight how powerful compound growth is. By investing $100 every month from the ages of 25 to 65 into an account with a 12% yield, Gen Z could retire with around $1,188,342. A millennial who started their investment journey just five years later, at age 30, would accumulate around $649,626 by age 65, she warned. 'With a 12% annual average rate of return—the markets can do that for you—you'd have a million dollars,' she explained. 'If there's anything the younger generation needs to understand, it's that the key ingredient to any financial freedom recipe is compounding.' So you can only imagine what the numbers could look like for someone who started saving at 6, not 26. By the time they reach their golden years, they could be living the retirement dreams their parents had to return to work to chase. Have you set up a pension for your child? Fortune wants to hear from you. Get in touch: This story was originally featured on
Yahoo
3 days ago
- Business
- Yahoo
As boomers are forced to ‘unretire' because they've not saved enough, 6-year-olds in Germany could soon have retirement accounts
Millions of baby boomers are being forced out of retirement, having realized their nest eggs don't quite make ends meet. With people living longer than ever, the issue will only get worse. So Germany is considering preparing Gen Alphas for the decades they'll one day be retired, with an 'early start pension' plan. After having a brief taste of retirement, a sizable chunk of Gen X and baby boomer retirees are dusting off their suits and returning to work instead, having not saved up enough to kick up their feet in the current climate. It's a fate that Gen Alpha in Germany may never have to face. That's because children as young as 6 could start saving for retirement, under new plans. As per a report from CNBC, Germany's coalition government has proposed an 'early start pension'—a retirement program designed for children between 6 and 18 years old. Unlike your regular pension pot, which requires putting aside a portion of your salary for your future self, the country's government would pay out 10 euros ($11) a month to children in education under this new plan. Over 12 years of eligibility, this could accumulate to more than 1,440 euros per child, not counting the potential investment gains from compounding interest over the decade. Then, from the age of 18 onward, they can add personal funds to the accounts and enjoy tax-free profits. However, that cash will become accessible to account holders only when they reach retirement age—which is currently set at 67 in Germany. 'The government plans to strengthen the state pension as well as reforming company pension schemes and private pensions,' a spokesperson confirmed the plans to Fortune. 'As one project, the so-called early start pension aims at offering young people perspectives for fund-based private pensions.' People are working well beyond retirement age globally. They're living longer than expected, caring for both their elderly parents and Gen Zers, and wanting to enjoy the fruits of their labor with lavish vacations instead of pottering around. It's why the number of those who have continued to work past 65 in the U.S. has quadrupled since the 1980s, according to the Pew Research Center. Now, almost 20% of Americans 65 and older are employed. That's around 11 million people and nearly double the share of those who were working 35 years ago. In the U.K., nearly 20% of baby boomers and late Gen Xers are similarly 'unretiring'—or planning to, because their retirement desires don't match up to the nest egg they've built. It's why it's never too soon to start retirement planning. The renowned financial expert Suze Orman previously highlighted that Gen Z and millennials could indeed retire as millionaires if they make the most of compound growth while they're young. She used just $100 to highlight how powerful compound growth is. By investing $100 every month from the ages of 25 to 65 into an account with a 12% yield, Gen Z could retire with around $1,188,342. A millennial who started their investment journey just five years later, at age 30, would accumulate around $649,626 by age 65, she warned. 'With a 12% annual average rate of return—the markets can do that for you—you'd have a million dollars,' she explained. 'If there's anything the younger generation needs to understand, it's that the key ingredient to any financial freedom recipe is compounding.' So you can only imagine what the numbers could look like for someone who started saving at 6, not 26. By the time they reach their golden years, they could be living the retirement dreams their parents had to return to work to chase. Have you set up a pension for your child? Fortune wants to hear from you. Get in touch: This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
23-05-2025
- Newsweek
Most Jobs for Gen Alpha Don't Exist Yet—Here's What They'll Be
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Amid fast technological and societal transformation, the careers awaiting Generation Alpha—those born between 2010 and 2025—are largely still conceptual. Around two in three Gen Alphas will work in jobs that do not currently exist, and from AI co-designers to neuro-lens developers, the job market they are projected to enter will be unlike any the world has ever seen. Shaila Rana, an IEEE senior member and professor of cybersecurity at Purdue University Global, framed this incoming socioeconomic reset bluntly. "The future is coming at us at an unprecedented speed and it's redefining and changing the jobs and roles that we have," Rana told Newsweek. Her words capture a generational shift. For Gen Alpha, many traditional professions may give way to emerging roles created in response to evolving digital, ecological, and social challenges and attitude changes. Several experts and futurists consulted by Newsweek believe that Gen Alpha's working lives will be shaped by the digital environments they grew up in, their "AI fluency," and a world grappling with rapid innovation and existential threats. This matters not only for Gen Alpha as they come of age, but for policymakers, educators, and parents too. As the World Economic Forum's The Future of Jobs and Skills report estimated back in 2016, 65 percent of children entering primary school that year were expected to work in job types that did not yet exist—and the experts consulted believe that many of them still do not. Algorithmic Ethics Architects Rana predicts that as artificial intelligence becomes increasingly embedded in society, ethical design will become a frontline concern, and a gateway to new job opportunities. "We may see algorithmic ethics architects emerging as an important job role," she said. From left: A robotics engineer stands in front of an augmented reality hologram at work; and a child sits in front of a small robot with protective glasses on. From left: A robotics engineer stands in front of an augmented reality hologram at work; and a child sits in front of a small robot with protective glasses on. Getty Images These professionals would be tasked with auditing AI for bias and translating moral values into technical protocols—a critical need as algorithmic systems begin to influence hiring, healthcare, law enforcement, and public policy. Unlike today's ethics consultants, these roles would carry engineering-level authority, enabling them to actively intervene in system design. Synthetic Data Designers Privacy regulations are tightening globally. Rana foresees the rise of synthetic data designers, who will use statistical modeling to create artificial datasets that train AI without violating privacy. These professionals will blend technical expertise with ethical foresight to ensure AI systems learn from safe, simulated realities rather than real human data. Digital Ecosystem Mediators In a world where multiple AI platforms interact simultaneously, digital ecosystem mediators will ensure interoperability. Creative AI design professionals might use OpenAI Sora type model to build movies in hours rather than months or years. "Professionals have to navigate the increasingly complex intersection of multiple AI systems," Rana added. These individuals will act as translators, facilitators, and harmonizers of competing algorithms. AI-Creative Hybrids Reza Rooholamini, chief science, AI, and innovation officer at CCC Intelligent Solutions, Inc., also envisions a future of immersive technologies. "Gen Alpha will be AI-native," Rooholamini told Newsweek. "They would be able to program systems via voice or AR/VR glasses. "I suspect the Gen Alpha would more attuned to AI, similar to how Gen Z was more attuned to mobile devices, and we should expect to see more creative-tech hybrid roles, sustainability-focused jobs, and digital health or extended reality (XR) related careers." He expects the growth of jobs like robotics AI engineer and robotics swarm engineer, as well as roles involving AI system sustainability, such as energy-efficient AI system designers and quantum-AI infrastructure planners. Advances in biotechnology and AI-driven health tools will create a new breed of wellness coach Creativity will not be sidelined. Rooholamini highlighted roles like immersive experience creators using models like OpenAI's Sora to produce full-length movies in as long as it takes to edit a TikTok video. Other jobs may focus on crafting personalized health solutions through AR/VR and building blockchain-based financial systems. "Creative AI design professionals might use OpenAI Sora type model to build movies in hours rather than months or years," he added. Longevity Lifestyle Coaches Matt Britton, CEO of Suzy and a leading AI and consumer trend expert advising Fortune 500 brands, sees health as a frontier for job creation. "Advances in biotechnology and AI-driven health tools will create a new breed of wellness coach—someone who uses personalized data and predictive models to extend both healthspan and lifespan," Britton told Newsweek. These longevity lifestyle coaches will be part health expert, part data scientist, and part life strategist, and they will likely use social media to their advantage in building lucrative online communities, following in the footsteps of many adults today. They will interpret biometric data, guide nutrition, meditative practices and sleep optimization, and help individuals achieve longer, more productive lives in line with society's growing interest in biohacking, subconscious mind reprogramming and general healthy living. The Rise of Reputation Capital For Dimple Thakkar, founder of SYNHERGY, Gen Alpha's future is not merely about new jobs—it's about entirely new career philosophies. "The system has cracked. The elevator is broken. So Gen Alpha? They'll trade diplomas for reputation capital," Thakkar told Newsweek. Thakkar predicts that a digital portfolio—comprising YouTube tutorials, Discord bots, and community apps—will come to carry much more weight than a traditional CV. "They'll use AI like we use calculators," the award-winning CEO said. "Work isn't what you do—it'll be who you impact." She outlined several roles likely to emerge: Prompt Architect Synthetic Personality Stylist AI Bias Auditor Virtual Companion Developer Digital/Archive Resurrection Specialist Civic Trust Engineer Urban Sentience Designer NeuroLens Interface Specialist Training the Machines Kathleen deLaski, author of Who Needs College, Anymore? and founder of the Education Design Lab, highlighted a suite of AI management roles tailored for Gen Alpha's skills. Among them were information architects, bot curators and fake news scouts. She said that each of these roles will require high levels of digital literacy and critical thinking—skills not just taught in schools, but earned through early and deep engagement with intelligent systems. Designing the New Human-Tech Interface Dr. Ja-Naé Duane, a behavioral scientist and faculty member at Brown University, emphasized that the real asset Gen Alpha will bring to the job market is their adaptability. "What will matter most are the skills they develop: complex problem-solving, collaboration with intelligent systems, and ethical reasoning," she told Newsweek. Her vision includes roles such as: AI Behavior Designer Synthetic Biology Programmer Metaverse Experience Curator AI Influencer Architect Decentralized Governance Facilitator Climate Adaptation Analyst Robot Rights Advocate Neuro-Interface Technician Personal Data Broker Digital Legacy Designer Each role reflects not just technological sophistication but also a fundamental shift in values—towards sustainability, identity, and resilience. The Educational Edge Gen Alpha's preparation for this future will not just depend on adaptability—it will also rest on education. McCrindle Research found that this cohort will have unprecedented access to information and formal education, with an estimated one in two predicted to obtain a university degree, compared with the rising trend among Gen Z that college is a waste of time. Their digital fluency and exposure to AI from a young age may place them in a unique position to design, not just participate in, the future of work—but things might just be even simpler than that. With changing attitudes around flexible work, digital nomad careers and alternating career paths now popularized among Gen Z, Gen Alpha might not want to work—at least in the traditional concept of the term—at all. "Want a bolder prediction? In 20 years, 'job' might be a dated concept," Thakkar said. "Instead, people may talk in terms of missions, reputations, or ecosystems. No job security? Good. That's freedom."
Business Insider
25-04-2025
- Entertainment
- Business Insider
Charms are finding their way onto every Gen Z girl's bag. Here's a peek into the origins of bag charm cult culture.
Gone are the days when the clickity-clack of stilettos used to signal a woman's entrance into a room. It's now replaced by the clickity-clack of the dozen charms she's hooked onto her handbag. Bag charms — small, decorative keychains — are quickly making their way onto the clasps of Gen Zers' bags. From miniature stuffed toys and cute figurines to beaded chains and even tiny framed pictures of their favorite artists, bag charms vary dramatically in size and form. For some, the charms just help to spice up an otherwise boring bag. For others, the importance of the charms goes much deeper — they are an extension of their personality, as much a fashion choice as their clothing. "Whether they're adorning the 'it bag' of the moment or a thrift store find, Gen Zs and Gen Alphas see their bags as a blank canvas to display their personalities and personal style," said Carol Davidson, an NYC-based image consultant. "It's adornment, sure, but also a way of sharing oneself with others," she added. "A cluster of charms gives others a snapshot of how someone sees themselves and how they want others to see them." Retail brands are hopping on the trend, with everyone from KFC to Balenciaga releasing bag charms to get the Gen Z buy-in. Celebrities at Paris Fashion Week had charms swinging from their bags. Here's a look at the hottest Gen Z trend of late. A modern take on 'Birkinifying' bags Davidson said one likely origin of the bag charm trend was the death of Jane Birkin, the late British actor and model who was the muse and namesake of Hermès' most popular luxury bag, the Birkin. "'Birkinifying' is officially a thing, originating with Jane Birkin herself. She was admired for her unique sense of style and love of fashion, but also for not taking it all too seriously," Davidson told BI. "She was one of the first — if not the first - to adorn her large, well-worn bags with charms, scarves, and trinkets. Since her death in 2023, we've seen the re-emergence of this '00s trend," she added. Gregory Scott Angel, an assistant professor of fashion at Parsons School of Design, said the punk style of the 1980s could have been a predecessor to the bag charm trend, a style characterized by a "number of piercings, jewelry, and visible identity." Angel likened charms to emojis. "The charms are a big identifier with people's personality. These charms could be associated with comfort, but for the most part, I see them as identifiers, the same way we use emojis to communicate with people," Angel said. A new way to vibe check Low Zhi An, a 23-year-old tutor and avid charm collector from Singapore, put it bluntly: "If you have no bag charms, you have no personality." Low said she probably has over 50 charms in her collection. Although she's spent up to 40 Singaporean Dollars, or about $30, on a single charm, her favorite is one she got for free at Taylor Swift's The Eras Tour concert in Singapore. "I got this small keychain from this little girl, and I just thought it was really, really cute. It just happened to have my favorite song on it, Gold Rush," Low, 23, said. Low, who is also a die-hard K-pop fan, said that her most expensive charm was a green star plushie keychain tied to an album from her favorite group, NCT. The charm has a Near Field Communication tag, which, when brought near a phone, immediately lets the user browse and stream the album online. She also has several charms with photos of her favorite K-pop celebrities, like Yeonjun from the boy band Tomorrow X Together. Yeo Wen Qing, a recent communications graduate, said her journey collecting bag charms started young, when she kept the small keychains and knickknacks she got from Kinder Joy sweets or McDonald's meals. Now, Yeo says she has more than 10 charms, at least one on each bag she owns. For Yeo, seeing what bag charms a person has is a litmus test of their personality and whether she'll be able to "vibe well with them." "If I see that person has a bag charm of a Labubu, I will know that person buys into trends, maybe buys a bit too much into trends," she said. Labubu, a furry plushie toy with serrated teeth made by Chinese toymaker PopMart, has taken Asia and, increasingly, the West by storm. She added that if she sees someone with a charm of an "obscure" cartoon or anime character that she loves, she finds it easier to approach them. Gwen Lim, a Gen Zer who works in campaign marketing in Singapore, collects bag charms on her travels. She said they serve as souvenirs of her trips and remind her of good times with her friends. Lim, 23, said charms also serve a very utilitarian function for her. In Singapore, where a handful of bag brands like Charles & Keith and The Paper Bunny reign supreme and trends spread like wildfire, many people carry similar bags. Hanging charms are her way of differentiating her bag from the masses. Lim's charms are also little vehicles for her beauty products. She said beauty brands in South Korea often package their products into bag charms. Even fashion stylists are getting in on the bag charm trend. Edith Chan, a Madrid-based stylist, said she's gotten her clients, who are mainly entrepreneurial women in their 30s, to get in on the bag charm trend. She said even tying a scarf onto their bag helps them make their bag unique to them. Major retail brands are hopping on the bag charm bandwagon Retail brands, from fashion to food from across the board, are making bag charms to get the buy-in of the younger consumer base. In Singapore, KFC debuted limited-edition bag charms of the beloved Japanese cat character Mofusand wearing hats shaped like egg tarts, chicken drumsticks, and an upside-down fried chicken bucket. View this post on Instagram A post shared by KFC Singapore (@kfc_sg) Over to haute couture, in November, Balenciaga introduced a "Charms Bar" in some of its stores worldwide, which allows customers to personalize their bags. One of the charms it sells is the $895 " Le City Micro Bag Charm," a tiny replica of its $2,900 Le City Medium bag. Angel, the professor from Parsons, said charms are "free marketing" for big brands like Gucci, Louis Vuitton, and Cartier. "In a competitive market, it helps luxury brands solidify brand loyalty with their existing base while providing an accessible entry for aspirational consumers," Davidson, the image consultant, said. Chan, the stylist, said the charms are a big way brands are drawing in younger customers. "These brands always go to the young people," she said. "It's one way to nurture this generation to make them brand loyal."
Campaign ME
23-04-2025
- Business
- Campaign ME
OMD's Sense conference to return to Dubai in May
OMD, the media network part of Omnicom Media Group, is set to host its Sense conference at the Museum of the Future Auditorium in Dubai on 1 May. The conference series aims to explore the evolving human behaviours of digital natives and their influence on marketing and advertising. It will focus on the three key consumer cohorts of Millennials, Gen Z and Gen Alphas, as their demands and expectations are reshaping marketing. The event will explore the shift in the way the three consumer cohorts work, connect and live and what brands and companies must do to stay ahead of the game. An estimated 300 industry professionals are expected to attend the conference. 'The digital transformation of marketing and our lifestyles is not only gathering speed, it's also growing in complexity. Cultures, sub-cultures and trends keep emerging so we must look closely if we want to stay relevant and effective, instead of clubbing all these cohorts together,' said Saleh Ghazal, CEO of OMD MENA. The media network claims to have assembled locally relevant international thought-leadership to prepare its audience of stakeholders and business partners for what lies ahead of them. In addition to OMD's EMEA and MENA CEOs Blake Cuthbert and Saleh Ghazal, respectively, the speaker line-up includes a world-renowned digital anthropologist and New York Times best-selling author, Rahaf Harfoush, Snap's computer vision engineering expert Qi Pan, and Dr Noah Raford, head of EMIR Advisory and former Futurist-in-Chief for Dubai. 'OMD's Sense conference is the perfect opportunity to pause, take a deep breath and seek a deeper understanding of the Gen Z, Millenial and Gen A consumers,' said Ghazal. 'They may have differences but together they are reshaping marketing and advertising. They expect brands to provide an authentic connection, cultural relevance, and community-driven initiatives. Decoding Generation H will give our stakeholders a sense of clarity and reassurance about what's ahead, because the best way to predict the future is to create it.' OMD's Sense conference is staged in partnership with Snapchat, and out-of-home media agency Talon.
