73 will be the average retirement age for Millennials
October 29, 2013 by Michael K. Stanley
Student debt will play the largest role out of all the factors leading to an average retirement age of 73 for Millennials with college degrees.
Although Americans of all generations of Americans are preparing to work longer due to inadequate savings coupled with an expanding life expectancy, it is student debt that is the biggest catalyst for Millennials’ elongated working lives and abbreviated retirement. According to a recent study from NerdWallet Investing (NerdWallet) — an online information provider on the financial markets, investing and the overall economy — with a median debt load of $23,000 upon graduation, Millennials have a steep hill to climb up before they can begin comprehensively planning for retirement.
Originally Posted at LifeHealthPro on October 23, 2013 by Michael K. Stanley.
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