7 Reasons Retirement Will Be Difficult for Generation Y

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@Marie:
There are a lot of articles on this site and on other sites that include tons of great advice for 20-somethings. Check the serach engine here (or just browse under the "Money" tab at the top), or google it.
And I'm a 20-something myself who has spent a lot of time seeking out those articles. This article isn't particularly depresing, but it is realistic. Plus, you're focusing on the bad - the article includes a lot of GOOD things too: people are living longer, healthier lives, we have cell phones and internet (that do cost money, but also provide greater freedom, greater access to information and education, etc.), most people have at least some college background, and as the article states, 20-somethings who save consistantly should have a comfortable retirement. Plus with all of the free retirement calculators on the internet, you can learn a ton of personalized information without having to pay a financial advisor for it. If you want advice on budgeting or cutting expenses so that you have more money to save, google "personal finance blog" or something similar - there are hundreds of blogs out there that exist solely to talk about personal finance and saving money.

stephanie of IL 4:40PM December 17, 2010

I was born in 1985 and I hope to live a long and healthy life -- and I hope to be financially healthy as well. Think my peers & myself need more encouragement and resources. I felt totally lost when starting my retirement account. As a grad student, there was no employer matching program available to me. Every retirement calculator wouldn't even let me put in my age (23 and 24 when I was looking) because it just didn't start that young!
There's a gross misconception amongst my peers that we have tons of time to save -- which is true, but I don't think it's clear to everyone just how rich you can get starting to save for retirement young. I was completely dumbfounded when I did the math and learned starting to save at 25 rather than waiting until 30 would result in nearly $100,000 more at 65!
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Bridget of AL 3:30PM December 16, 2010

This article is very depressing for a 20-something to read. I think the last point is huge - with the economy the way it is, and all of the burdens of student loans, etc., what is a 20-something supposed to do? How about a follow-up article that looks at the bright side/gives some practical advice?

Marie of VA 10:44AM December 16, 2010