Despite their optimism about the future, Millennials don’t think they’ll ever be millionaires. A recent study from Wells Fargo found that 64% of employed 22-35-year-olds believe they will never be able to achieve $1 million in retirement savings. High student debt and low incomes play a significant role in their outlooks: the median personal income of the respondents who said they don’t see it in their futures is $27,900. The gender wage gap is also a real saving limitation for Millennial women: the median personal income for men was $10,300 higher than their female counterparts, and 54% of Millennial women report having to live paycheck-to-paycheck, compared to 43% of men. (The Wall Street Journal)
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