Regardless of generation or age, a rather large percentage of people do not understand financial investing nor have any type of plan. It's not taught in schools and what is taught in various avenues is mostly by people looking to earn a 12B-1 fee or something similar. Ask a person what compound interest does for you or give them the "penny a day and double it" quiz and you'll be surprised by the current answers you get. Unfortunately, quite a few people follow the herd when it comes to their own retirement and end up either working to 70 or worse. Same goes when the market is unsettled. In 2008 I saw half the guys at my day job shift pull their money out when the market tanked. No amount of convincing would change their minds. But while people are fast to point fingers it boils down to the person in the mirror every morning.