Young people aren't saving money for a variety of reasons - our guests share causes & solutions

Mar 6, 2015

Millennials, those aged 18 to 35, are terrible at saving money for retirement. That age group is the only one with a negative savings rate. 

Not that it has been the greatest climate for these younger adults to save, entering the job market during an economic downturn, amassing student loans that must be repaid, and finding their upward career paths blocked by baby boomers who are staying on the job longer. We talk with Sarah Holden, senior director, Retirement and Investor Research, with the Investment Company Institute; and, local financial advisor Chris DeSimio about ways millennials can boost their savings, and how parents can help their adult children better prepare for their financial futures.