Document Type


First Faculty Advisor

Kim, Jongsung


Retirement Planning; Young Workers; Social Security


Bryant University


The Millennial Generation is defined as those ages 15-30 in 2009 and is comprised of 80 million individuals (Elswick, 2004). This study explores how a segment of this generation, young workers between the ages of 18-30, is currently saving for retirement given the unprecedented economic challenges they face. These challenges include rising everyday expenses, record amounts of student loan and credit card debt, as well as how they will prepare for retirement given the uncertainty surrounding Social Security. The purpose of this study is to evaluate young workers current financial situation, retirement plans, and retirement expectations. Using data collected from a survey distributed to 149 individuals between the ages of 18 and 30, the study examines how young workers are preparing for retirement and if any variables increase the likelihood of preparation. The results of the study show that age and education play the most significant role in the likelihood that an individual is currently saving for retirement. In addition, young workers seem to have identified the challenges facing the Social Security system and recognize that they need to compensate for these payments to be adequately prepared for retirement.

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Economics Commons