HMM.
The article is mostly confused....
It also said:
Millennials also demonstrated a skewed perception of the cost of living in retirement. Some 70 percent thought they would spend less than $36,000 per year, but according to the Bureau of Labor Statistics, annual spending by people aged 65 to 74 in 2013 averaged $46,757.
The millennial generation "is largely not on track to attain financial security in retirement," the IRI researchers concluded.
and,
Millennials, by contrast, appear to be doing more to prepare for retirement. Some 68 percent are currently saving for retirement, according to a recent study by the Insured Retirement Institute and the Center for Generational Kinetics. That is an improvement on the 64 percent of workers aged 50 or older who told the Transamerica Center surveyors they were doing so.
What I got from it was that young folk don't anticipate spending as much as their boomer parents, are horribly worried, and are trying to save but don't really know how to actually do the thing effectively.
