Both "YOLO" (you-only-live-once) and "FOMO" (fear-of-missing-out) place more attention on living in the moment instead of planning for the ...×U.S.EditionNewsU.S.NewsWorldNewsBusinessEnvironmentHealthCoronavirusSocialJusticePoliticsJoeBidenCongressExtremismEntertainmentCulture&ArtsMediaCelebrityTV&FilmLifeStyle&BeautyFood&DrinkParentingTravelWellnessRelationshipsMoneyHome&LivingWork/LifeShoppingCommunitiesQueerVoicesWomenBlackVoicesLatinoVoicesAsianVoicesSpecialProjectsHighlineHuffPostPersonalVideoHoroscopesFromOurPartnersVoicesElevatedGoForGoldNewslettersInternationalAustraliaBrazilCanadaEspañaFranceΕλλάδα(Greece)IndiaItalia日本(Japan)한국(Korea)QuébecU.K.U.S.FollowUsTerms | PrivacyPolicyPartofHuffPostMoney.©2021BuzzFeed,Inc.Allrightsreserved.NEWSPOLITICSENTERTAINMENTLIFEPERSONALSHOPPINGVIDEOU.S.EditionBoth"YOLO"(you-only-live-once)and"FOMO"(fear-of-missing-out)placemoreattentiononlivinginthemomentinsteadofplanningforthefuture.Thistrendplaysoutonsocialmedia,butspillsoverintoallareasoflife,makingithardertopictureyourfutureselves.Whenyouare25,itisveryhardtoseeyourselfasgray-haired,retiredandlivinginacondoinFlorida.ThisfuturefeelsevenmoredistanttothoseintheYOLOandFOMOmindset.Whatyounggenerationsdonotrealizeisthattheiryouthistheirmostvaluableattributeforretirementplanning.Alongsidelivingforthemomentandsmellingtheroses,Iencouragemillennialstobepragmaticinfinancesandstartgettingtheirfinancialhouseinorder.Whilelivinginthemoment,haveaparalleltrackofmovingforwardfinancially.AdvertisementIthelpstopictureyourfutureself-notjusthowyoumaylookphysically,butwhatyoudowithyourtime,whereyoulive,howyouvacationandyourincome.Thiscanhelpcrystalizeyourretirementvisionandgiveyoumotivationtostartplanningtoday.So,whatcana20or30-somethingdonowtoplanfortomorrow?HerearethreesimplestepstotakesothataFOMOandYOLOmentalitydoesnotjeopardizeretirement.First,payyourfuturefirst.Fundaretirementaccount,takeadvantageofanyemployermatchandincreasesavingswheneverpossible.Howmuchyouputawaynowgreatlyimpactsyourlife