It’s no surprise that most millennials have little put aside for retirement, what with all the other demands on their income like student loans and rent.
There’s not much left over at the end of month, writes Katie Lobosco for CNN Money, who adds that a new report reveals “how far off track they might be.”
The report shows that 66 per cent of people between 21 and 32 have saved nothing at all for retirement.
“I see in practice that a lot of us are putting retirement down the goal priority list, in favor of paying off student debt or buying homes,” Douglas Boneparth, a certified financial planner and author of The Millennial Money Fix, is quoted saying.
Waiting to save for retirement chews up valuable years of compounding returns, and financial experts advise that the earlier one starts to build a nest egg, the better.
More: Not all millennials are behind in saving for retirement.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapension
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