They Asked Millennials If They Were Saving Enough For Retirement. Some Were On Track, Others Said, 'Plan Is To Work Until The Day I Die'

Core Insights - Millennials are increasingly feeling behind on retirement savings, with many expressing concern about their financial future and the adequacy of their savings [2][3] Group 1: Retirement Savings Status - Experts recommend that individuals have twice their annual salary saved by age 35 and three times by age 40, yet the median savings for those aged 35 to 44 is only about $45,000 [2] - Responses from millennials reveal a wide range of savings experiences, with some having significant savings while others report being in debt or having no savings at all [2][3] Group 2: Factors Influencing Savings - Positive savings experiences are often linked to strong employer matches, union jobs, or careers in stable sectors such as public education or private equity [3] - Some millennials credit early employment in unionized positions for providing a solid financial foundation, highlighting the importance of employer support in retirement planning [3]