Only about 50 percent of working American adults feel prepared to live comfortably in retirement. It’s a figure that remains relatively consistent across age groups, but each generation faces a retirement predicament of its own.
We spoke to Jennifer Brown, manager of research at the National Institute on Retirement Security, who has quick advice for three generations on boosting retirement readiness.
1. The generation: Millennials
The downside: The Pew Research Center reports millennials’ higher rates of student loan debt, poverty and unemployment, and lower wealth and personal income compared to Gen X and baby boomer generations when they were in the 20-35 age range.
The goal: Prioritize saving