Info-Graphs, Politics

84 Percent Of Millennials Have Under $50k Saved

New data shows millennial attitudes about aging, retirement and our shared future

It a millennial word nothing is certain.  Labeled constantly as one the most unpredictable generation, millennials inspire mixed feelings from different people. Millennials are defined as the “me” generation.  Millennials have grown up more sheltered than any other generation as parents strived to protect them from the evils of the world.  

To get a better idea of what millennials think of the future, Aperion Care recently surveyed 2,000 millennials to get predictions on life expectancy, retirement, politics and technology. The survey results ranged from surprisingly hopeful to downright strange.  For example:

  • 85% of millennials expect to own a home at some point in their lives.
  • As many as 34% of millennials believe they only need $200,000 or less to retire comfortably.  The reality is that they will need much much more than that.
  • Millennials think they will live to an average age of 81.  Baby boomers expect to live about four years longer, on average. 61% of millennials also expect to live to an older of age of both their parents.
  • A quarter of Millennials plan on having zero children and 60% plan to be at an average wealth when they die.  Only 30% expected to be rich.  This is a bleak outlook from older generations.
  • 84% of Millennials have under $50K save for retirement.  53% of Boomers have under $50K save for retirement.
  • 51% of millennials think global warming will not be reversible.
  • 60% of Millennials think it’s likely that World War III will occur in their lifetime.
  • 80% of Millennials think it’s likely that a women will become president of the United States in their lifetime.
  • Millennials agree that guns being banned is just as likely to happen as artificial intelligence taking over the world.

As you can see the survey data shows some interesting insights about Millennials. There’s an optimistic story about Millennials wanting to own homes, which is a start contrast to what’s being reported in the news.  The data that show’s that Millennials think they can live off $200,000 or less for retirement is troublesome to say the least.  To see the full insights, check out the study or the infographic below.

save for retirement