DENVER BUSINESS JOURNAL - The mantra from retirement planners is to start saving early. If a 25-year-old saves just 5 percent of an income and increases that rate up to 13 percent, the retirement kitty could accumulate $1 million.
But a Wells Fargo survey of millennials reveals that women, who are earning less than their male counterparts, don't feel they can catch up.
The survey of 1,005 millennial men and women showed that more women feel they are "stretched too thin" to begin saving for retirement, and don't believe they can reach the $1 million level.
A difference in the average salary of millennial men and women surveyed plays a part — $39,100 for men vs. $28,800 for women.