The Average Millennial Has This Much Saved For Retirement Already - Are You Ahead or Behind?

The average Millennial believes they'll need about $1.65 million to retire comfortably, yet they have saved only about $62,600. This gap highlights the challenges they face in achieving financial security.

Many Millennials are proactively planning for retirement much earlier than previous generations, starting to save at around 25 compared to Gen X’s 30 and Boomers’ 35.

Despite their proactive approach, some Millennials struggle with debt and living expenses, often pushing retirement savings down their list of priorities.

To catch up on retirement savings, Millennials can maximize their 401(k) contributions and seek financial advice, even if they work for themselves.

Read at 24/7 Wall St.