A new report finds a deeply troubling retirement outlook for the Millennial generation. Most Millennials have nothing saved for retirement, and those who are saving aren’t saving nearly enough. The report indicates that many factors are contributing to this generation’s retirement savings challenges – from depressed wages to the lack of eligibility to participate in employer retirement plans.
More specifically, the analysis finds that 66 percent of working Millennials have nothing saved for retirement, and the situation is far worse for working Millennial Latinos. Some 83 percent of Latinos in this generation have nothing saved for retirement.
Retirement in America: An Analysis of Retirement Preparedness Among Working-Age Americans
Retirement in America: An Analysis of Retirement Preparedness Among Working-Age Americans answers key questions relating to retirement savings, access to retirement plans, and how saving for retirement interacts with other financial commitments, such as repaying student loan debt and owning a home. It offers a broad examination of how different groups of workers are faring in their preparation for retirement and where workers are falling short.
