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Most millennials expect to retire at age 56

Most millennials expect to retire at age 56

A new study published by TD Ameritrade found that on average, millennials expect to retire by age 56.

And of the 1,500 millennials surveyed for the study, 53% expect to become millionaires at some point in their lives.

However, that percentage is unevenly divided between men and women: Of those surveyed who expect to become millionaires, 70% are men, compared to 38% of women.

Perhaps what’s surprising about the report is that so many millennials expect to retire so young, despite the mass amounts of student debt that many are carrying.

According to the study, millennials collectively have $1 trillion in student loan, credit card and other debt, and almost one quarter of the group expects they’ll never be able to pay off their loans.

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