Data & Research April 25, 2007

Young Adults Interested in Planning for Retirement

As the understanding that the safety net of Social Security might not be there in the future, young adults seem poised to prepare for their post-working years.
Reported by
In fact, half of investors between the ages of 18 and 24 are currently saving for retirement, with almost another third of them (30%) saying they plan to begin such saving in the near future, a recent survey says.
According to the survey by YOUNG MONEY magazine, America’s young investors are far more interested in saving for their retirement (32%) than in saving for a house or a car (7%), saving for college (3%), or paying off debts (1.4%).
Of those in the online poll who said retirement was their number one goal, 56% were women.
In addition to being aware of their need to save for retirement, these young adults also seem aware of the need to be financially savvy now: about half of the 1,000 respondents, with an average annual salary of $45,000, follow a budget.

«