Millennials face retirement challenges due to policy changes and debt
CNBC — February 9, 2024, 05:00 PM UTC
Summary: Millennials face a challenging retirement outlook due to policy changes, longer lifespans, and student debt. A 2022 study projects 38% of early millennials will have inadequate retirement income at age 70, compared to 28-30% of early and late boomers. Millennials' net wealth is lower than previous generations due to student loans. However, higher education and 401(k) enhancements offer hope. Experts advise increasing retirement savings incrementally.
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