Passive Indexing just isn't really known amongst non-financey people. If I asked all my friends on Facebook, I'd expect only a couple of accurate answers.
That's an excellent point... I'm way more into saving and not-spending because we had a recession as I was finishing high school, and by the time I finished uni, only the lucky few were actually getting the jobs they wanted.
Millennials haven't had a recession in Australia (the GFC didn't affect us, China kept buying all our stuff) so they've never been scared they won't have any money in the future... without that fear... why invest... retirement is so far away.
Rough ride indeed.