The American Savings Education Council (the nonprofit arm of EBRI) and AARP have released a new report examining the retirement readiness of Gen X and Gen Y workers. The report makes all of the usual observations about these two groups — among them, that they aren´t saving as much as they know they should, yet remain confident that they will ultimately achieve a secure retirement.
However, the report goes off the rails a bit when it not-so-subtly observes that the younger generations know more about operating an iPod than about saving for retirement. According to the report, 40% of workers age 19 to 39 say they are “very knowledgeable” about how to use an iPod, while just 15% say the same about both saving for retirement and how to invest outside of a workplace plan.
