Millennials Ditch The Workplace, Opt For More Nomadic Lifestyles
NEW YORK (CBSNewYork) – A 401(k) is the last thing on many young people's minds.
A record number of millennials are quitting their jobs, because they don't want to be tied down.
"It was just that work, commute, hangout with friends, and just do that on repeat," Sarah Solomon told CBS2's Jessica Moore.
Solomon was living a young professional's dream until at the age of 25, she decided she was burned out. Her company's vacation policy was cramping her millennial style.
"I didn't want to have to wait a year before I could take five days at a time going on vacation," she said.
So, she ditched her PR career and its six-figure salary for the life of a digital nomad, representing a few clients remotely as she travels the world, pinching pennies to make ends meet.
"I can work and still travel and see the world. And that was really -- and then once I got that in my head, I was like, I have to make this happen," said Solomon.
Psychotherapist Jennifer Abcug sees many millennials redefining the traditional trajectory of success.
"I think the mindset with some of the millennials is: Why wouldn't I do this? Because I don't know what's going to happen tomorrow," she said.
But not all millennials are buying into the idea.
"I think that sounds amazing, but I definitely want a good career and I want to be successful, and that's not something that interests me," said Midtown resident Abby Cantor.
Frances Franz, of the Upper West Side, said she believes vacation is the reward for hard work, not the other way around.
"No, not in a thousand years. I needed to have income. I wanted to be independent," she said.
But Solomon said she can have it both ways and refuses to live with regrets.
"I think I'm going to look back and be so proud and happy that I did this, so that's worth it for me," she said.
A recent survey of more than 10,000 millennials showed 43 percent plan to quit their jobs within two years. Experts say the trend is actually creating a big problem in the hot job market, with myriad job opportunities and not enough qualified candidates willing to work.