Today’s guest post is from EBN Managing Editor Andrea Davis, who wonders whether new survey results showing high financial know-how among 20-somethings is born of youthful hubris or true knowledge. Enjoy, and share your thoughts in the comments. —Kelley M. Butler
A new survey suggests workers under the age of 25 are significantly more confident than others that they are on track for a comfortable retirement. Eighty-two percent of those under 25 are “somewhat” or “very” confident they’re on track to have enough saved to be able to pay for the lifestyle they want in retirement, compared to 63% of the general population, according to State Street Global Advisors’ most recent DC investor survey.
The youngest workers also indicated greater-than-average faith in their financial knowledge: The percentage of employees age 25 and under who reported that they’re extremely knowledgeable about financial matters was nearly double that of the general population.
While it might be easy to chalk it up to youthful arrogance, could it be that this younger generation has absorbed some of the financial lessons we need them to learn?
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