Zocalo Public Square: Getting Young Californians to Prepare for Their Financial Future?
Posted on September 30, 2014 at 12:31 pm
Are you in California? Check out this latest piece in Zocalo Public Square featuring our own Director + Writer, Emily Probst Miller, as well as one of the experts featured in Broken Eggs, Teresa Ghilarducci.
The good news: It turns out the millennial generation (born between 1982 and 2003) are super savers, and have banked more than either Generation X or baby boomers had at the same age. The bad news: Millennials hop from job to job so often that they lose thousands in potential 401(k) retirement savings. Perhaps worse: Most of this new labor force will not retire until age 73. That will leave your average millennial with about 11 years of retirement to enjoy, given an average life expectancy of 84.