Millennials say they don't make enough money to save for retirement - Business Insider

Of the respondents withwhatsoever, about 46% said unemployment was to blame . The youngest millennials are in their early-to-mid 20s and it's likely they spent the last several years in college or graduate school. Overall, theamong 25-to-54 year olds is about 82%, according to the Federal Reserve of St. Louis.

Meanwhile, 10% of those lacking a retirement account said it's because they're not worried about retirement right now. Another 23% of the millennial respondents cited that as a minor reason.— it comes down to income. "I don't earn enough money to save for retirement" was cited as a major reason by 53% of millennials with no retirement account and a minor reason by an additional 13%.

Still, a quarter of the millennials who say they don't save in a retirement account because their income is too low earn between $50,000 and $100,000 a year, the survey revealed. Research and data show it's likely that a big portion of millennials' paychecks go toward high rents,

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

3 steps to mastering millennial finance from adviser Douglas Boneparth - Business Insider'Nothing will really stop you in your pursuit of accumulating your wealth if you've mastered and have done all of those steps before,' Boneparth said. due diligence. if you’re going to let someone else manage your money, investigate them | have they been sued by anyone? have they been disciplined?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Apple is looking to become a studio - Business Insider - Business InsiderApple made two announcements that suggest it's seeking studio status, including a five-year content TV production deal with Alfonso Cuarón. For the time being apples cash rich advantage is offset by its reluctance to produce anything anyone wants to watch
Source: BusinessInsider - 🏆 729. / 51 Read more »

Instagram influencer on how much money she earns from sponsored post - Business InsiderKaty Bellotte, a social-media influencer, said she earns the bulk of her money promoting products to her followers on Instagram and YouTube.
Source: BusinessInsider - 🏆 729. / 51 Read more »