Interesting article seeing that I’m about to open up my Roth IRA account this week.
Millennials are quickly becoming the most examined generation in history—and for good reason. Their numbers exceed even those of baby boomers, and with the social safety net fraying it’s never been more critical for young people to start saving early.
The latest string of surveys and studies is encouraging. On the financial front, this generation of mostly twentysomethings displays surprising fortitude. They recognize the importance of saving and tend to be more proactive about planning than their elders, concludes Northwestern Mutual.
Some 62% of Millennials rate themselves disciplined or highly disciplined as money planners, compared to 54% of folks aged 60 or over, according to the firm’s 2014 Planning and Progressstudy. Certainly, there is evidence that Millennials are making plenty mistakes and may be characteristically overconfident on the financial front. Yet 68% acknowledge room for improvement in managing their finances, suggesting a degree of humility not often seen…
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