Millennials' readiness for retirement

Munnell, Alicia Haydock, and Anqi Chen. “Millennials' readiness for retirement”. Issue in Brief 21-3, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, February 2021. http://hdl.handle.net/2345/bc-ir:109045.
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Abstract

The brief's key findings are: A prior CRR study found that, in 2016, Millennials lagged behind Gen Xers and Late Boomers in retirement preparedness. New data for 2019 show that Millennials are catching up in the labor market and in getting married and buying houses. However, despite also having similar retirement saving, Millennials' huge student debt burden still leaves them well behind prior cohorts in wealth accumulation. This slower wealth buildup is of particular concern as Millennials will need more than prior cohorts due to longer lifespans and less support from Social Security.

Title
Millennials' readiness for retirement: A 2019 update
Author
Munnell, Alicia Haydock
Chen, Anqi
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
February 2021
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
21-3
Persistent Link
http://hdl.handle.net/2345/bc-ir:109045
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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