Mass-affluent millennials — those with $50,000–$250,000 in investable assets — are in a funk over their student loans. They believe that they haven’t saved enough toward retirement because of that mountain of student debt hanging over their heads.
Among mass affluent respondents in the U.S., according to a survey conducted by Braun Research Inc. on behalf of Bank of America’s latest Merrill Edge report, the feeling in general is guilt — for not investing enough in 2014 and for other financial decisions they’ve made during the year.
While a full third of respondents said they feel guilty for not investing enough during the year and lesser numbers feel guilty about food and drink decisions (18 percent) and lack of time they spent with their loved ones (17 percent), millennials stood out as chalking up their lack of retirement savings to student debt.
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
Already have an account? Sign In Now
© 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.