Yogyakarta Mayor Urges Youth to Achieve Financial Freedom Before 50

Yogyakarta Mayor Hasto Wardoyo has urged the younger generation, particularly university students, to start planning their futures by targeting financial freedom before reaching the age of 50. He argued that economic self-reliance is a crucial provision for facing future challenges, especially as the Special Region of Yogyakarta begins to enter an ageing population phase. Hasto clarified that financial freedom does not mean possessing vast wealth, but rather having passive income sources capable of meeting living needs without complete dependence on active employment. “Before the age of 50, one should be financially free. No longer worrying about what to eat today, tomorrow, or the day after. All of that should already be settled,” he said while speaking at a Career Development Seminar entitled ‘The Professional Compass: Navigating Mental Wellness and Career Survival’ at Universitas Muhammadiyah Yogyakarta (UMY). Hasto noted that this target is increasingly relevant as Yogyakarta begins to face the demographic challenge of a growing elderly population. If the younger generation does not prepare for financial independence early on, he warned that this condition could affect future economic growth. Beyond highlighting the importance of financial freedom, Hasto also emphasised that success in today’s workplace is no longer determined solely by academic ability or hard skills. Instead, the ability to communicate, adapt, build relationships, and possess empathy are becoming more dominant factors in determining career success. He observed that during higher education, students typically acquire around 90 per cent hard skills and only 10 per cent soft skills, but upon entering the workforce, the situation is reversed.