Too Many Young People (Still!) Believe Retirement Saving Can Wait

401k, retirement, saving, millennials

You want me to save for what?

Here’s a shock—people tend to favor instant gratification over delay and discipline. Not exactly news, but for 401(k) saving, in particular, it’s THE challenge the industry increasingly faces when getting young people to invest early and often.

New research reinforces the issue, with Navient’s Money Under 35 national study reporting that early four in 10 young adults in America believing that saving for retirement can wait.

It also finds that many young adults, ages 22 to 35, tend to prioritize short-term goals like homeownership, saving for vacation, paying down debt or building an emergency fund.

“Many millennials just starting out may struggle to balance paying down debts and saving money, especially for retirement,” Julie Wilson, head of research for Navient, said in a statement. “Our research explores how these trade-offs affect their financial health in the short term.”

Key findings include:

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