The ABA Retirement Fund Program’s (“Program’s”) recordkeeper Voya Financial’s recent survey finds inflation is creating a greater worry for Generation X (born between 1965 and 1984) and Millennials (born between 1981 and 1996) when it comes to retirement planning.
The Program offers investment and other advice and guidance options to help employees make more informed financial choices about retirement, managing school debt, saving for emergencies, and more. Our comprehensive suite of retirement account* and financial planning** solutions is designed to meet employees at each stage of their financial journey — and help them more confidently chart a path forward.
Millennial mindset shifts from saving for experiences to emergencies
The concerns of Millennials today may be rooted in their experience living through the Great Recession of 2007 – 2009 and then the recent economic downturn tied to the pandemic. Add to these concerns the burdens of student loan debt, higher health care costs or the rising cost of childcare and education, and the uncertainties deepen.
Share the linked flyers with your employees and encourage them to take advantage of these resources. It could make a difference in how they view their retirement readiness.
All data unless noted otherwise is based on the results of a Voya Financial survey conducted March 29-30, 2022, on the Ipsos eNation omnibus online platform among 1,000 adults aged 18+ in the U.S.Ipsos is a separate entity and not a corporate affiliate of Voya Financial® This material is provided for general and educational purposes only; it is not intended to provide legal, tax or investment advice. All investments are subject to risk. Please consult an independent legal or financial advisor for specific advice about your individual situation.