Millennials, not Boomers, feel most in control of their finances
Americans nearing retirement worry about more than just how they’re going to spend those savings. According to the 2015 Consumer Banking Insights Study, 67% of Americans age 55 and over feel the least in control of their finances. This might seem surprising, as retirement is perceived as a time to relax after decades in the rat race.
On the flip side, 79% of Millennials, more than any other age group, reported they feel the most in control of their finances – data that contradicts the stereotype of unemployed twenty-somethings living off their parents while paying down student loans.
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