A majority of Millennials changed their spending habits and how they save for retirement after receiving financial advice, according to a survey by TIAA-CREF.

Seventy-one percent of adults under the age of 34 are the most likely to monitor their savings very closely after speaking with an advisor and 66 percent said they changed their spending habits because of it, compared with older generations of Americans.

When it comes to financial planning, Gen Y is most interested in interacting with an advisor online, 61 percent, attending webinars, 59 percent, and live seminars, 58 percent, compared with surveyed Americans overall. They also are the most likely to want financial advice designed specifically for their needs, with relevant tools and calculators that break down complex topics.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.