Caption

Millennials spend more on coffee, save less for retirement

A large number of Millennials spent more on coffee in the past year than they invested in their retirement savings, according to a new study.

» RELATED: What makes Millennials tick in the workplace? It may surprise you

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.

» RELATED: Local companies adapt to Millennials in workforce

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.

» RELATED: Dayton entrepreneur delivers Ohio’s best coffee

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.

FIVE QUICK BUSINESS READS

» Dayton ranks among top cities with highest credit card debts

» Ohio water systems to map where lead pipes are located

» Dance studio opens new location in Englewood

» Airline offers daily flights from US to Europe for under $70

» New ‘clean-eating’ restaurant to open at Cornerstone of Centerville

Recommended for you

Recommended for you

Recommended for you

Most read

  1. 1 Dayton-based PSA Airlines cancels flights to, from Charlotte
  2. 2 Two taken to hospital after crash on US 35 in Dayton
  3. 3 Miamisburg bicentennial: Time capsule from 1968 opened

More from Daytondailynews