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Savings & Retirement

Plan for Retirement? Millennials Don’t See the Point

A new study finds 45% of investors aged 18 to 35 are waiting for more “normal” times to start saving.

Pensioners Take In The Sea Air On Ruegen Island As Bundesbank Floats Higher Retirement Age — Photographer: Krisztian Bocsi/Bloomberg

By

Suzanne Woolley

March 18, 2022, 4:21 PM UTC

Not only have many Americans lost confidence in their pre-pandemic retirement plans, but nearly half of those aged 18 to 35 “don’t see a point in saving for retirement until things return to normal,” according to a new survey.

For the majority of younger respondents, retirement planning has been put on hold — 55% said that, compared with 41% of all respondents in Fidelity Investment’s 2022 State of Retirement Planning Survey.