About 41 percent of the Millennials — ages 18 to 35 — admitted to spending more on coffee than they saved for retirement. A new report from Acorns Grow Inc. surveyed nearly 2,000 Millennials on their investment habits, and found about two out of every five Millennials feel anxious about daily expenses.
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More than half of Millennials felt their formal schooling left them unprepared for financial success, according to the report.
"These numbers are staggering. I don't accept that it's OK to teach kids about sex but not money," said Noah Kerner, CEO of Acorns.
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Other key findings from the study include:
• About 50 percent of Millennials are not certain how to invest their money, but feel it is important to learn.
• Approximately 41 percent of older Millennials — ages 24 to 35 — predict they won’t be financially secure enough to retire until they are older than 65 years old.
• Only 5 percent of 18 to 23 years old are actively investing.
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