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Study of Gen Y Workers

With financial security as passion number one and saving for retirement topping the list of financial goals, Gen Y workers are optimistic but realistic about their financial future according to a recent study by The Principal Knowledge Center.

Key findings reported by Gen Y workers:

Putting a price tag on the American Dream

  • Gen Y says their American Dream will cost $3.1 million in today's dollars.
  • Their version includes being financially secure, having freedom and owning their own home.

Setting goals, budgeting

  • Saving for retirement tops their list of financial goals, followed by paying off student loans and paying down credit card debt.
  • 80% say they have a monthly budget
  • Two-thirds have an emergency fund.

Saving earlier, working later

  • Almost two-thirds started saving for retirement at 25.
  • Two-thirds plan to retire after age 65.
  • Nearly half have not calculated the amount of money needed to retire or have a set goal.

Learn more.

The Principal Financial Group surveyed retirement plan participants ages 18-34.

Have a question? Call us at 1.800.986.3343

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