You and millions of Mexicans are leaving your labor future to chance; with no savings, no plan, and hoping to figure it out later. That "later" is the problem, because each day that passes without saving money shortens your future and your pension evaporates. The warning is already out. The credit information society Circulo de Crédito revealed that official figures show that in Mexico, six out of ten people have no pesos saved for their retirement and are almost condemned to live old age in poverty. Meanwhile, less than 40% of young people are concerned and do not make contributions to their Afore account, therefore they have no resources for their pension, according to the National Commission for the Retirement Savings System (Consar). Financial education for retirement Circulo de Crédito pointed out that, facing the challenges of an economic landscape where labor stability has changed and traditional pension schemes are increasingly limited, financial education has become a fundamental tool for new generations to build a dignified retirement. He stressed that today, more than ever, young people of the Millennial and Z generations, born after 1980-1985, must understand that saving for retirement is not a distant topic, but a financial decision that is important to begin from the first years of their working life. He noted that, given the Consar figures – which warn that less than 40% of young people save for their retirement – financial education is a key point for them to know the savings and investment mechanisms that will help them obtain a pension, such as voluntary contributions to Afores or personal retirement plans. "According to data from the National Commission for the Retirement Savings System, the youngest generations no longer have pension schemes like those that existed before, so their retirement will depend mainly on the savings accumulated in their Afore, voluntary savings and other personal investments", he concluded.
