Millennials: To ease financial anxiety, brush up on finance

by: Landon Dowdy

Millennials may still have decades of earnings ahead of them and plenty of time to save for retirement, but many are still worried about their financial futures.

Nearly four in 10 said they worry about their financial future at least once a week, according to recent study from Fidelity. Financial advisers say the anxiety may spring from a lack of financial know-how.

Most schools still don’t have financial literacy programs in place and many parents are reluctant to have conversations with kids about money, said Judith Ward, a financial planner at T. Rowe Price. As a result, she said, “millennials don’t know where to start.”

“Financial literacy is a huge problem,” said Chantel Bonneau, a financial advisor for Northwestern Mutual. “It’s really constantly surprising to recognize how people don’t know the important aspects of this topic.”

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