Generational Differences in Retirement Planning Perspectives

초록

This article analyzes the Survey of Consumer Finances waves from 1989 to 2019 to examine the generational differences in retirement planning perspectives while controlling for age and period effects. Millennials exhibit less motivation for retirement saving and a lower preference for long-term planning, yet their self-assessment of retirement adequacy is not lower. Millennials’ confidence in retirement adequacy, without strong motivation for retirement saving or future time preference, appears ungrounded. This suggests a need for different financial policies, education, and counseling for policymakers and practitioners. © 2025 With Intelligence LLC.