If millennials live up to their ambitions, the future of retirement could be younger, earlier and thus longer than ever before.
In the most recent Future of Retirement report released this spring by London-based HSBC, U.S. millennials, born between 1980 and 1997, reported an average planned retirement age of 58 years old.
“While Millennials are broadly aware of the economic and demographic challenges they face, they do not appear to have grasped the full implications for their retirement,” said Charlie Nunn, HSBC group head of wealth management, in a released comment.
Nevertheless, HSBC’s report also suggests that millennials could have what it takes to meet their lofty goals.
Source: FA Magazine