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Millennials Ripe for Retirement Planning Info

Millennials are hungry for information about retirement planning. A recently released study shows that a strong majority — nearly 80% -- number understanding retirement planning options among their biggest challenges.

Lincoln Financial says that online research is the information source more Millennials prefer, although at 38% it was a plurality and not a majority. A big majority did, however, say that that they would rather buy financial products such as annuities or life insurance in person or over the phone and not online.

Millennials’ concern over retirement planning, added to the recognition among them identified by MassMutual that saving for retirement is important, suggest opportunity for efforts to better inform and educate what is now the largest demographic group in the workforce.

The Lincoln Financial Group found the Millennials’ disquiet about retirement planning in its Measuring Optimism, Outlook and Direction (M.O.O.D.) of America Survey. Millennials are not alone, by the way — 67% of the population overall feels the same.