The millennial generation, also known as Generation Y (Gen Y), comes after Generation X (Gen X). In Indonesia, they currently placed the second biggest generation population after Generation Z (Gen Z).

The millennial generation was born between 1981 and 1996, but some have considered them as beginning in 1980 and ending in 2004.

Millennials are sometimes stereotyped as entitled and lazy, but closer examination reveals that this is not the case. Millennials place high importance on education and hard effort, and they are willing to make sacrifices in order to succeed. Millennials may consider their situation as unjust not because they are entitled, but because they believe they have done their bit but have yet to reap the expected benefits.

Millenials' economic reality
The demand for a college degree has never been greater, yet the cost of earning one has never been higher, and the advantages relative to previous generations have never been lower. The relative worth of a college degree rises as the earnings gap between college and non­college graduates widens. At the same time, the absolute value of a college degree has decreased for Millennials—median wages for Millennial college graduates are lower than for Generation X graduates, despite the fact that the cost has risen dramatically

These economic wounds will follow millennials for the rest of their lives, manifesting as lower salaries, reduced wealth, and a delay in achieving milestones like homeownership.

Stagnant and low wages are simply one facet of the issue: Even with greater salaries, many millennials are living paycheck to paycheck due to the numerous debts they've had to take on to make ends meet.

Can Millennials really retire?
In addition to the multiple chaoses, millennials face in their current economic state, based on a short poll of 100 millennial respondents in Jabodetabek performed by the DPLK Association in 2019. 90% of millennials haven't started saving for retirement, and 60% of them have no knowledge of retirement plans. 

The question arose, will millennials ever retire?

Millennials who continue to participate in the stock market may have a better chance of a more prosperous retirement. Over time, the stock market has produced returns of around 10%, and individuals who begin investing while they are young reap the benefits of those extra years. 

The typical savings interest rate is roughly 4% per year, however, investing might yield higher returns than savings.

Some other efforts to prepare Millenials retirement include retirement age target, retirement lifestyle and obligations outline, as well as financial budgeting.

Based on the four percent rule, millennials with Rp4 million monthly income ideally own Rp1,2 billion as their retirement fund.

In conclusion, millennials can have a retirement despite the following challenges they need to face, although it requires more measures compared to what their previous generations encountered.