Millennials know that their retirement won’t look anything like their parents’. A Wells Fargo survey found that the younger generation is starting to save a lot earlier than Gen Xers and Baby Boomers. While today’s retirees started saving at the age of 40 on average, and Gen Xers at age 36, Millennials are starting at 25. They also have different expectations: only 25% of Millennials expect their retirement income will come from Social Security or a pension, while 45% say it will be funded by personal savings. (Business Insider)
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