Where will the youth find retirement income?
January 29, 2020 by Paola Peralta
Some 63% of younger Americans polled by the Longevity Project and Morning Consult believe that they will live longer than their parents, with 70% of Gen Z members saying they will have a longer lifespan than their elders, according to this article in CNBC. The survey also found that 48% of younger Americans feel they are not saving enough to secure their retirement, while 50% think they are not ready to plan for their retirement. Social Security is expected to be the main source of retirement income across all generations. “While 83% of baby boomers expect to have some income from Social Security, that drops to 64% for Generation X,” according to the article. “Meanwhile, just 42% of millennials and 38% of Gen Z plan to depend on those benefits.”