Millennials Unrealistic About Homeownership, Retirement
You want to buy a home, but you haven't been saving for one. You want to retire near the typical retirement age, but you haven't been saving for that, either. Don't worry, the homeowner and retirement fairies will be pulling up to your door soon to deliver a truckload of cash.
Absurd, isn't it? Nobody believes in homeowner or retirement fairies – but a sizable number of Americans act like they do.
A recent Business Insider and Morning Consult survey found that 25% of millennials who expect to retire between the ages of 66 and 75 don't have any retirement savings at all. Over half of all millennials (52%) have no retirement savings account, but 46% of that group expect to retire between 56 and 75 and 12% of them expect to retire before age 55.
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