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Millennials (those born between 1981 and 1996) are one of the most studied generations. Among the findings about this group is that the vast majority of them often discuss saving, investing, and retirement planning with family and friends, according to the  2014 Transamerica Retirement Survey of Workers . This is a good sign.  T he bad news:  Studies show that 24% of workers had less than $1,000 saved for retirement, and 55% had less than $50,000.  So what can millennials do to ensure their nest eggs improve sufficiently by the time they get around to retirement? Here are a few tips. Start planning for retirement now Personal financial planners  and advisors will tell you that although it might seem far away, the best time to start saving for your retirement is now.  If you begin in your 20s, you will save more over time and the compounded interest will have a bigger effect.  But if you’re a millennial in your 30s, you can still save a subst...

Planning for your retirement is one of the most important things you must take care of in your life. Yet only about 50% of Americans have a retirement plan, according to  Investopedia . Experts in  financial planning advice  suggest that you will need to replace 80% of your current income by the time you get to retirement.  What’s troubling is that many people are not even close to that target. In fact, with a large pool of people depending on social security, which averaged $1,404 (total $16,848 annually) at the start of 2018, it’s clear that retirement planning is woefully inadequate. The picture gets a bit more worrisome when you take into consideration the reality that no one knows how long the retirement phase of their life will last. These days, on average, people are living much longer.   Although the average life expectancy is up near 79, the data shows that more and more people are living and past 85 years old.  Indeed, the number ...