A recent survey suggests that for many Millennials today they prefer to keep their savings in cash instead of stocks or bonds.

Whether their retirement funds or a rainy day fund etc, it seems that many prefer to go the cash route and cash is still king for them.

The survey results showed that about 33% of their retirement funds were in cash, with about 31% in stocks and 16% in bonds so they aren't entirely against dabbling in the stock market either.

looking forward to retirement?

With introductions like Robinhood into the investment arena it has made it more simplified or accessible in recent years for people to get involved. Along with that comes the abundance of financial information that people can find online as well, aside from whatever might be included in their traditional television programming content.

As for the preparation for retirement there might be many who are concerned about having enough or even getting started.

Previous reports on the topic have suggested that Millennials might not be saving enough to prepare for that, same with Gen Z as well.

How much are they supposed to aim for?

You can find a variety of answers online. One analysis on the subject from not long ago has suggested that it might be between $3 million - $4 million or more.

But while some suggest that they might be far behind or might underestimate what they need etc, there are other reports showing that they might be ahead of their parents in terms of retirement savings, according to a previous study by Charles Schwab.

For many younger individuals today they haven't started yet in trying to save for retirement and perhaps they might be overestimating the ability of the state to be there for them and take care of their needs later on in life.

As well, the high cost of living in cities around the U.S. and elsewhere today has made it a lot more difficult for them to be able to do that as well. Surveys have also found that inflation is making it more difficult for people to save as well.

Pics:
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This is not financial advice and has been posted for information purposes only.
Sources:
https://www.cnbc.com/2021/05/25/robinhoods-disruptive-trade-the-good-the-bad-and-the-controversy.html
https://markets.businessinsider.com/news/stocks/millennial-investing-stock-market-analysis-bonds-cash-is-king-schroders-2023-4
https://www.cnn.com/2022/04/27/investing/retirement-millennials-boomers-saving-more/index.html
https://www.cnbc.com/2022/07/20/millennial-and-gen-z-employees-arent-saving-enough-for-retirement.html