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
Keep Reading

Next Up

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.

A New Ingredient in Pumpkin Spice Lattes: Pumpkin

Starbucks has announced that its Pumpkin Spice Lattes will now actually contain pumpkin (and not caramel coloring).

Make Your Own Iced Coffee

Sipping on a tall cup of iced coffee may be refreshing in the summer heat, but load it up with creamy and sugary add-ins and your drink can rack up the fat and calories. Here’s the skinny on creating a lighter iced coffee and more on one hot trend for making a cup of Joe: cold brewing.

Weekly Bits: Cool Java Tricks, Sweet & Savory Melon and More

Last week, you (the readers) shared great tips on healthier chicken salad recipes and making baby food at home. This week: DIY frozen treats, the perfect cold brew and creative ways to dress up your watermelon.

Decaf Coffee: Is It Healthy?

If caffeine gives you the jitters you may opt for coffee that’s “de-buzzed.” But is this a healthy choice?

Carrot Lattes Are Pretty Much What They Sound Like

Baristas in Australia would like to present you with a carrot latte, which is, yes, a latte served in a carrot.

In the News: Warning for Tea Drinkers, Starbucks Goes Green, Teen Weight Loss Surgery & More

From this week’s headlines: Starbucks goes eco-friendly, weekly food recalls, making dinner faster and easier, and weight loss surgery for teens.