They may or may not really believe capitalism will be dead by the time they are 65. Who knows?
People of all age brackets come up with all kinds of convenient excuses not to save money. :-)
“In the long run, we’re all dead.” - John Maynard Keynes
Yep, it’s called rationalization.
I’ve been thinking about that. One possible solution is to give $1k to every American newborn and put it in the S & P 500. Do not under any circumstances allow them to touch it until age 59. Only one adjustment at age 50 where they can switch to 50-50 stocks/bonds like all advisors suggest. They can watch it grow every day of their childhood and by age 18 they’ll be hooked. So will their parents. It will encourage opening that 2nd account and put pressure on the colleges to offer ‘usable’ degrees.