According to E-Trade, 6 out of 10 young investors cite student loan debt as the first or second largest obstacle to saving for retirement. (Photo: Shutterstock)
According to E-Trade's most recent edition of StreetWise, which tracks experienced investors' quarterly activity, not only do six out of 10 young investors cite student loan debt as the first or second largest obstacle to saving for retirement, that percentage has gone up nearly 20 percentage points over the past four years.
In addition, 60 percent of young investors say they've already made an early withdrawal from retirement savings.
The top reason they give for doing so is student loan debt. But they still consider themselves financially savvy, with 80 percent saying they've had “moderate to heavy exposure to personal finance and investing.”
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
