THE BOTTOM LINE
As Gen Y-ers, we clearly worry about the future and trust ourselves more than anyone else. But here's the good news: We're off to a good start when it comes to saving for retirement—plus, we have time on our side. As Kristen Robinson, SVP of Women & Young Investors at Fidelity Investments, puts it, "Nothing can replace the long-term impact of regular saving. Finding ways to turn positive savings habits into more deliberate investing strategies may give millennials the peace of mind they so clearly desire." If you ask me, those are some words of wisdom we could all afford to listen to.
TAKE THE NEXT STEP
Looking for help prioritizing paying off debt and saving? Read this article next to get Fidelity's point of view on where to start and why.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
1.The Fidelity Investments' Millennial Money Study was a follow-up to the 2014 Intra Family Generational Finance study, a comprehensive online poll of U.S. parents and their adult children conducted between April 3 – April 9, 2014. The Intra Family Generational Finance study examined the levels of agreement between families on key financial topics, and included 1,058 parents and 159 adult children. To qualify, the parents had to be at least 55 years of age, have an adult child older than 30 and have investable assets of at least $100,000. Children qualified if they were at least 30 years of age, had at least $10,000 saved in an IRA, 401(k) or other investment account.
The follow-up study was designed to ask many of the same financial questions to gain a Millennial perspective and was conducted on April 2 – April 9, 2014 by GfK Public Affairs and Corporate Communications, using GfK's KnowledgePanel®. The study examined a group of 152 adults aged 25 to 34. To qualify, Millennials had to have at least one living parent.
Fidelity and GfK are independent entities and are not legally affiliated.
The images, graphs, tools, and videos are for illustrative purposes only.
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