Millennials are inclined to save retirement and a few incentives might help them get over their wariness about the risks. Those are the conclusions of a new Prudential Retirement study of what will get Millennials into retirement savings. According to the survey of Millennial employees, many of them (83%) are inclined to save for retirement by witnessing the shortfall of older generations approaching retirement age. A similar number (81%) say retirement savings is a “must.” However, nearly half of those polled see the investments as “risky.” Moreover, many of those participating in retirement plans say they are “complicated” (63%) and… Read More
Categories: Financial Services, WorkWhile there are many threats to the performance of equity markets, the onslaught of Baby Boomer retirements will not be one of them, according to financial analysts. While events like the “fiscal cliff” or downturns like the one in 2008 will continue to affect market performance, the fear that a mass of retiring Boomers pulling their money out of equities would crash the markets is unfounded. While large numbers of Baby Boomers have begun to reach retirement age, their retirements should have little impact on the value of equities. For one, those retirements will be spread over 25 to 30… Read More
Categories: Baby Boomers, Financial Services, WorkMillennials are gradually awakening to the need to plan for retirement and the financial industry is gradually awakening to the importance of reaching out to Millennials. The generation and the industry may have found a meeting place in age-based and Roth funds, according to an analysis by Fidelity. According to the study, about two thirds of Millennials are choosing funds organized around age-based asset allocation. Among all participants, only about 45% choose that option. About half chose target-date funds compared with 30% among investors at large. Millennials also choose Roth savings options 50% more than other Generations. About 9% of… Read More
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