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Gen Y More Guarded about Retirement Savings than Older Generations
TIAA-CREFLink to more items from this source
June 25, 2015

"[W]hen it comes to retirement planning, Gen Y (age 18-34) may be more conservative than older generations in their outlook, with only 56 percent saying they are counting on Social Security to provide income in their retirement, compared to 76 percent of 35- to 44-year-olds and 73 percent of 45- to 54-year-olds. And with the memory of the financial crisis still strong for many younger adults, this group also is more concerned about market turbulence. Thirty-four percent say if they could choose one primary goal for their retirement plan, it would be to ensure that their savings are safe, no matter what happens in the market -- a marked increase from older generations." [Also available: tabular summary of survey results and Infographic.]

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