Generation Y Still Not Saving

June 19, 2008

Young adults remain untapped market for financial advisorsDespite an uncertain economy and warnings about future shortfalls in Social Security funding, today’s young adults are not stepping up to save for retirement. A recent report from Mintel reveals that over two-thirds (69%) of Generation Y workers who can participate in a tax-deferred 401k retirement savings plan are not doing so.“Today’s young adults will likely need to rely more on individual savings for retirement than their older counterparts. But so far, they aren’t preparing to do so,” comments Susan Menke, Senior Analyst at Mintel.

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