Pentegra, a provider of retirement plan and fiduciary outsourcing solutions, introduced the Pentegra Millennial SmartPath, a report detailing best practices and strategies for Millennials to help improve retirement readiness and overall financial wellness.
The report provides tips, advice and a better understanding of best strategies for Millennials including harnessing the power of compounding, finding extra dollars to save, saving for college and retirement, managing debt and asset allocation guidance.“The early years of a Millennial’s career can be chaotic and stressful,” says Rich Rausser, Pentegra senior vice president, client services. “Entering the workforce, paying back student loans, buying a home, raising a family, navigating debt issues, advancing a career, are all financially challenging. There is so much to juggle for this generation, especially money. As the first true ‘post-pension’ generation, Millennials must save enough for retirement largely on their own. This is difficult for this group who are saddled with record levels of student loans. We wanted to create this tool exclusively for them, to provide valuable information to help Millennials master the financial strategies they should look to adopt right now. Our goal is to offer practical ways to achieve greater financial wellness and retirement readiness.”
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