Other Concerns Reflect Life Stage Priorities

Retirement may be decades away for most Millennials, but according to new Kehrer Bielan research they are already preparing for it.

When asked to identify the most important goal for their savings and investments, more Millennial households chose “Providing for retirement” than any other priority.

While retirement is top of mind for Millennial households, nearly as many Millennials chose “Buying a Home” as their top financial priority. Providing for emergencies, education, and family round out their five most important goals, representing a diversity of concerns.

The key takeaway? The Millennial using your mobile app to apply for their first mortgage is also interested in talking to someone about preparing for retirement. Client-facing personnel and technology in banks and credit unions need to recognize the opportunity and be prepared to start that conversation.