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Merril Edge 4/28/16

Posted at 11:45 AM, Apr 28, 2016
and last updated 2016-04-28 11:45:27-04

It’s no surprise that Americans nationwide are taking stock of their financial situation, especially when it comes to retirement. Millennials are no exception. But, according to the latest Merrill Edge Report, Millennials’ perspectives on their later years and how to get there hints at a redefining of retirement. Nearly half of the generation expects to retire when they hit a certain financial milestone or savings goal, while their older counterparts are focused on leaving the workforce when they hit a certain age or can no longer work due to health concerns. However, while millennials are taking a goal-oriented approach toward their retirement, they align with Americans overall in thinking they could be more proactive about retirement planning. When asked how proactive they were about planning for retirement, nearly four in 10 Americans award themselves a grade of “C” or lower and only 18 percent give themselves an “A.”