Retirement advice from a Boomer to a Millennial

I'm in my early 60s and fortunately will be able to retire soon. But I work with a lot of young people who just don't get how important it is start planning early for retirement. They don't even seem to know where to start. I'd like to help them better prepare -- do you have any advice? --Jeff M.

I applaud you for wanting to help your colleagues in their 20s and early 30s, but let's not be too quick to assume they're clueless about retirement. The latest Allstate/National Journal Heartland Monitor Poll did find that young workers are more concerned with immediate needs like paying off student debt and building an emergency fund than retirement. But a new T. Rowe Price study also reports that saving for retirement is important to Millennials and that they're actually doing a pretty good job of balancing current obligations with preparing for retirement.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755