Millennial retirement - Are they being delusional?

Recent research from Hargreaves Lansdown shows that 1 in 8 millennials want to retire by the age of 55, but are millennials being delusional?

Millennials are blamed for a lot of things, such as job hopping, more debt and brunch, to name a few. They are often called delusional for the way they live their life and more recently millentials have been called delusional for their aims for retirement.

Recent research from Hargreaves Lansdown has highlighted that 1 in 8 millennials wants to retire by the age of 55, this is despite millennials as a group owning fewer assets and holding more debt. Millennials will also not benefit from the generous pensions that our parents and grandparents have benefitted from. So what is the disconnect?

The main reason for such a disconnect is education. Millennials are just not taught about managing money and retirement at school so we are learning through observation. If our relatives can do it then so can we.

Retirement is also so far away that it is hard to understand what our life will look like by that time.

What can we do to make it bettter for millennials to get to retirement:
Start small and start early
Work out the number we need for retirement
Use products such as the Lifetime ISA and SIPP.

Link to pension calculator: https://www.hl.co.uk/pensions/pension...

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