Millennials: Savings Is Key Weapon to Slay Retirement Foes

Millennials face unique challenges in achieving retirement security. But these challenges can be overcome by a healthy and early commitment to savings, financial professionals say.

Millennials, generally pegged as those born from 1982 through 2000, often enter the workforce already saddled with large student loan obligations. In addition, scientific and medical breakthroughs mean it’s likely they will have longer lives and thus more retirement years to save for.

These obstacles need not deter millennials, as long as they develop a long-lasting commitment to savings, David Blanchett, head of retirement research with Morningstar in Chicago, told Bloomberg BNA.

“Saving isn’t fun ...