You can't retire without some savings
According the Morning Consult survey, of the 52% of millennials without a retirement savings account, 46% still expect to retire between 56 and 75 years old and 12% expect toFinancial experts say retirement accounts are one of. The benefits of contributing to a tax-deferred IRA or 401 cannot be overstated. Contributions are taken pretax, so the money has greater potential for compound growth. And some employers will match contributions, which is essentially free money.
, though less so than retirement. While 8% of millennials and 23% of Gen X respondents expect to never own a home, 70% and 50%, respectively, would like to one day. However, just 40% of those millennials and half of those Gen Xers are actually saving to buy. About 12% of baby boomers who don't own already also want to purchase a home one day but aren't saving right now. Interestingly, almost a greater share of Gen Zers are saving for a home than Gen Xers and baby boomers combined . Given that this data is self-reported, lets see how those numbers change once Salle Mae comes knocking.
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