Gen Y most pessimistic about retirement: survey
By Lauren McNitt
ProWEB Wire (Industry News)
Generation Y is losing confidence in their ability to retire, according to a new MFS Investment Management study.
More than half, 59 percent, of Gen Y investors agreed with the statement, "Over the past few years I’ve lowered my expectations about the quality of life in retirement.”
Gen Y investors include individuals between ages 18 and 30. On average, Gen Y has more than 35 years to plan for retirement, yet their generation reports the most pessimism about their retirement prospects.
Among investors of all age groups, 49 percent said they were less hopeful about retirement.
The survey included 929 investors with $100,000 or more in household investable assets.