While there are lots of characterizations floating around about millennials, including a reputation for fiscal irresponsibility, a new study has found that the majority of them would trade pay for more secure retirement benefits. And while they were formerly willing to do the same for lower or more predictable health care benefit costs, they’re backing off from doing that.
The study, from Willis Towers Watson, found that 59 percent of millennials would trade a lower paycheck for a more secure retirement benefit, up from 42 percent in 2009. Incidentally, boomers, too, would trade pay for retirement checks, with 66 percent willing to make the exchange; that’s up from 50 percent in 2009.
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