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 can’t 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.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access