Most millennials are hoping to retire early, but only a fraction are doing what it takes

MSN Money ^ | June 9 2017 | Tanza Loudenback

[CorporateStepsister]

According to a poll from our partner, MSN, 67% of American millennials (aged 18 to 29) want to quit the working world at or before age 65. The current full retirement age, meaning the age at which Social Security benefits fully kick in, is 67 for those born in 1960 or later.

MSN polls its readers, and then uses machine learning to model how a representative sample of the US would have responded, using big data, such as the Census. It's nearly as accurate as a traditional, scientific survey.

[Alberta's Child]

The only participation trophy in retirement is a Social Security check, folks — and it ain’t going to pay for very much by the time you retire.

[AppyPappy]

I loaded up my 401k only to find I will get a pension. I could have spent that money on booze and broads but NOOOOO....

[EagleUSA]

Millennials: victims of liberal thinking. They live in a faux world -— this is another good example.

[Steely Tom]

Most millennials are going to have to retire early, and they won't like it.

That's because robots will be taking their jobs.

[The Toll]

HA!!! Retirement? Yea right.

[The Toll]

They will toil until the moment of their deaths because of Democrats.

[Puppage]

I could have spent that money on booze and broads but NOOOOO....

There's still time!

[Pearls Before Swine]

I loaded up my 401k only to find I will get a pension. I could have spent that money on booze and broads but NOOOOO....

You're a double dipper. Look to the future...now, you can afford to spend twice as much on OLD broads because you were an unwitting saver in your youth.

[Da Coyote]

If millenials keep voting progressive, there will be no country to retire to.

[SandRat]

And, I’ll not give, donate, 1/10 of a penny in any, sort of way, to support them.

[Obadiah]

I could have spent that money on booze and broads...

My guess is your wife may have objected to this.

[VanDeKoik]

Retire?

Haven’t many of them already done so?

[jimbug]

Well, the first requirement of retiring early is to be generating an income.

[Veto!]

now, you can afford to spend twice as much on OLD broads

Ageism. Quit disparaging and defaming old broads. I am one, and I can tell you, we are fully deserving of twice as much money and everything else.

[steel_resolve]

Millennials will collect social security? Hahhahahahahaaa!!! Lols.

[alternatives?]

Hard for anyone to retire with such low interest rates.

[JediJones]

Their duty is clear. To build and maintain those robots.

[mac_truck]

The key to retiring early is to develop streams of passive income while also reducing expenditures. For most people this means investing in real estate, for both a primary residence and rental income.

Millenials who are not active in the real estate market today will find it much more difficult to retire early in the future.

[SVTCobra03]

I am retired with two pensions, a 401(k), social security and I do some part-time consulting. Life is good.