53% Cite Living Costs as Millennials Lag Gen Z on Retirement Without Inheritance

3 articles · Updated · AOL · Aug 22

Nearly half of non-retired Americans say they may never fully retire, and millennials are more likely than Gen Z to feel behind because they do not expect an inheritance.
53% cite the cost of living and 47% say they do not earn enough to save, leaving millennials juggling housing, children and aging parents with little perceived financial backstop.
64% of non-retirees say current financial needs take priority over retirement planning, a delay advisers warn can make long-term goals harder to reach as compound growth time shrinks.
60% of workers who feel ahead on retirement credit starting early, underscoring experts' view that steady saving matters more than waiting for a future windfall.

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