More than 50% of those ages 18 to 34 have less than $1,000 in savings and 62% of all Americans have less than $1,000 saved. No doubt the Millennial generation is falling behind. However, with a long investing horizon, they can get their saving into shape. USA Today points out 7 ways Millennials can get a jump-start on retirement planning:
- Pay yourself first
- Put your money to work
- Get every penny of your 401(k) match
- Consider a Roth IRA
- Keep investments simple
- Think beyond savings
- Be wary of advice from peers or parents