Millennials are more likely to have a monthly savings goal
as compared to Gen Xers and Baby Boomers1
Millennials are also more likely to be aware of brokerage/investment account fees1
in their retirement plans.
Millennials had rebalanced more
often as compared to Gen Xers
and Baby Boomers1
Received professional advice1
Increased contribution level1
Have not taken any
of the above actions1
Confidence in their
with the added
help of a financial
financial plans with
help from a financial
Is your plan design meeting the needs of your Millennial participants?
Based on their responses, Millennials on average were more engaged, informed, and confident about making the right investment decisions than any other group. They saw the importance of personalized advice; they value guidance and expect it from their retirement plans.
For more information on how you can help younger participants achieve better possibilities, talk to your retirement plan consultant or visit schwab.com/retirementplanservices.