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June 7, 2014 05:00 pm GMT

Recession-Battered Millennials Have Retirement Hardships to Come

Retirement

The Great Recession spared no one, but it fell especially hard on millennials. They suffered the highest unemployment rates, which academic evidence shows this will permanently reduce their wages. In the meantime, student debt has skyrocketed to record levels. The result: Their greatest financial hardship may come decades from now, when they retire.

Merrill Lynch released a report Wednesday intended to highlight the positive motivations for Americans working in retirement. The study found that 78% of pre-retirees above the age of 50 intend to work after they retire. Many are driven by reasons other than money. If these Boomers—and future generations—want to work in retirement, maybe the feared retirement crisis won’t materialize. Read more...

More about Finance, Social Security, Retirement, Millennials, and Business

Original Link: http://feeds.mashable.com/~r/Mashable/~3/LvEomCFnDRI/

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