Do Millennials Spend More on Coffee or Retirement?

A startling percentage of millennials admit to spending more money on coffee than they do saving for retirement.
Related To:
505169210

505169210

Photo by: yktr ©yktr

yktr, yktr

We already know millennials love coffee. Now we know just how much they’re willing to stake on it: their future financial security, apparently.

A new report from Acorns, a “micro investing” app, suggests that a startling percentage of millennials cop to spending more money on coffee than they spend saving for retirement.

Fully 41.29 percent of millennials admit that they shelled out more on lattes, cappuccinos and other coffee drinks in the past year than they invested in retirement plans, according to Acorns’ first annual “ Money Matters Report,” which was drawn from data collected from the responses of 1,900 millennials, ages 18 to 35, who responded to questions on SurveyMonkey.

Perhaps, then, it should not surprise us that the survey also revealed that 52.64 percent of millennial respondents describe their level of investing savviness as “low” and only 9.33 percent of them as “high.” (About 38.03 percent of them hedged their bets on “medium.”)

It may also not be a total shocker to learn that 39.15 percent of millennials say they feel “anxious” when they contemplate their financial future.

Of course, that could just be the jittery effects of drinking all that caffeine.

Photo: iStock

Next Up

Coffee: Good or Bad?

Americans consume 400 million cups of coffee per day. In Italy, people down 14 billion espressos every year. But the coffee-guzzling king is Finland, where residents drink more coffee than anywhere else in the world. Clearly, coffee is one of our favorite beverages, but is it good or bad?

Coffee Creamer: Good or Bad?

Do you start your morning with a splash of liquid coffee creamer? Find out if that’s a smart way to begin the day.

5 Coffee Hacks to Make Your Mornings Easier and More Flavorful

Melissa d’Arabian shares five tried-and-true tricks for brewing and using the ultimate pots of coffee.

What Do You Get When You Cross a Latte and an Avocado?

What’s more on trend than artfully poured lattes and avocados? An artfully poured latte in an avocado.

Nutrition News: Fast Health, Fat-Fueled Sports and Another Reason to Drink Coffee

A study finds benefits in intermittent fasting; a high-fat diet may be good for athletes, but not everyone; and if you drink coffee, your arteries may be spick-and-span.

7 Ways to Boost Your Metabolism

Looking to rev up your metabolism? Say no to dangerous weight loss pills and wacky crash diets. Instead try any of these 7 safe ways instead.

Summer Sips: Which Are the Healthiest of the Bunch?

Looking for something refreshingly fun to beat the heat this summer? Check out these sensible sippers.

Reading List: Caffeine Hurts Your Heart, A Look at Cheap Food & A Pro Footballer Goes Veg

A new (rather graphic) ad wants to keep you from pouring on the pounds, coffee and alcohol are linked to irregular heartbeats and there's a new "veggie-filled" Goldfish snack on the market.

7 Healthy Warm Winter Drinks

These hot drinks will keep you warm all winter long.