Are Millennials on Track With Retirement Savings? Here's What a Recent Survey Says
Millennials tend to get a bad rap when it comes to financial matters. Search the internet for avocado toast memes, and you'll know exactly what that means.
But the reality is that millennials have had a pretty tough path to financial stability across the board. Many millennials graduated college with piles of debt and, to this day, have yet to earn a high enough wage to really get ahead of it. Throw in the exorbitant cost of homeownership and child care, and it's amazing to think that millennials are able to save for retirement at all.
Recent data from Northwestern Mutual shows that the average retirement savings balance among millennials is $62,600. And for younger members of that generation, that's pretty impressive. But older millennials may need to start ramping up their savings efforts to be able to retire in a comfortable manner.
Source Fool.com
