For a generation between 22 and 32 years old, saving for retirement is one of the most important things they can do for their financial future-- at exactly the time they cant afford to do it.
More than half of the so-called millennial generation, 54%, reported that debt was their biggest financial concern currently, in a recent Wells Fargo Retirement Survey. Large student loans, which had a total outstanding balance of over $1 trillion at the end of 2012, had taken their toll. Debt was reported as overwhelming by 42% of respondents, which was twice the rate of boomers who were also surveyed.
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