Sad millenials stat

Target is $1M by the time they retire.
I don’t know how many people participated in the Schroders 2023 survey, but that Millenials stat is somewhat sad - almost half (49%) expect to have less than $500K by the time they retire.

Workers say they need over $1M to retire — most expect to miss that (

After a disappointing market year like 2022, things can appear depressing. But haven’t they heard of compounding?


Young people are not usually known for having perspective and seeing the big picture. They will be just fine. Also, didn’t read the article, but they probably are thinking in today’s dollars. They’ll have at least enough, whatever “enough” becomes 30-40 years from now.


The younger end of the millenials are in their mid-20s
The older end of the millenials are in their early 40s
Though I haven’t retired yet, I don’t consider anyone in their mid 30s as young. “Younger than me” - yes. But not young.

As mentioned earlier - compounding can help. They just need to start investing.

Keeping in mind that inflation is compounding too. That million will look painfully small if it their actual balance upon retirement.


When it comes to saving for retirement, the young face many problems. They tend to be in low end of salary range. May have student debt. Car payments. Saving for down payment on a home. Wedding expenses. Saving for education of children. The best they cando is begin a regular savings plan.

Later it gets easier as kids are on their own and many other needs have been addressed. Hopefully they are aware of the need and begin planning to address it.

I thought this development was quite interesting and encouraging. More young people applying for manufacturing jobs.

Now we need to get them also interested in other trades - HVAC, electric, plumbing etc. where there is a shortage of younger workers.

These can be steady careers that could support a consistent saving and investing habit.


People in their 20’s are young and stupid.
People in their 30’s have children and mortgages.
People in their 40’s have college expenses for children.
People in their 50’s can finally start saving for retirement.

This is not new.


It is about priorities and living below your means.

That is not new either.


This is so true. Probably the best formula for building wealth while living a fulfilling life. Something I am trying to teach my sophomore college kid.


Not new at all. The new part is delaying the stages by 5 or 10 years.
Children in late 30’s and early 40’s.
Mortgage only starting in 30’s.
College expenses continuing through 50’s.
Saving for retirement over fewer years overall.

And life expectancy flat or going down, so death is not delaying.