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Millennials Want to Retire at 59, But 3 Out of 4 Aren’t Very Confident That’s Achievable


New Research From Alto Reveals a Massive Gap Between Men and Women, With Just 15% of Millennial Female Investors Very Confident About Reaching a Comfortable Retirement

NASHVILLE, TN / ACCESSWIRE / June 22, 2022 / Alto Solutions, Inc. (Alto), a self-directed IRA provider that enables individuals to diversify their retirement investments, today released the “2022 Alternative Investing Report: How Millennials See Their Financial Future.” The study of more than 2,000 investors found that while millennials hope to retire at the age of 59, they don’t feel confident about getting there.

While retiring early is the goal, 53% of millennials are worried that they’ll never be able to afford retirement. In fact, only one out of four millennials feel very confident they’ll be able to retire comfortably at their desired age.

Alto’s research also found that 76% of millennials worry a market crash could wipe out their savings/investments, and 60% believe that unless you are a professional investor, it’s hard to be successful in the stock market.

“In a world of conspicuous consumption, soaring living costs, and mounting student loan debt, millennials find it difficult to invest for the future because they are struggling to afford the present,” said Eric Satz, founder and CEO of Alto. “In addition, millennials are unsure of how to invest for retirement in the face of increasingly volatile markets that they deem as ‘too risky’.”

The good news is that millennials are open to other ways to invest for their financial future. Crypto and other alternative assets such as real estate, venture capital, and collectibles are viewed as attractive because of their potential for high returns. Further, 85% of millennials expressed interest in learning more about alternatives, with 89% of millennials saying that once better informed, they were likely to invest in alternatives.

Additional key highlights from the newly released study include:

  • Millennials Are Enthusiastic About Crypto:

    • Nearly 40% of millennials own cryptocurrency. This is more than those who own mutual funds and about as many as those who own individual stocks.

    • Crypto’s not the only appealing alternative to millennials, though; more than 77% of survey respondents were interested in investing in real estate, 67% in innovation funds, 55% in venture capital and angel investing.

  • Gender and Wealth Gaps Exist In Retirement Savings:

    • 39% of millennial men are very confident that they’ll retire at their desired age, compared to 13% of millennial women.

    • Only 12% of millennial women feel they have the right investments to reach their retirement goals.

    • Less affluent investors are more than 50% more likely to associate stress with investing.

  • All Generations Harbor Retirement Concerns:

    • Gen Xers hope to retire at age 62, but 52% are concerned about getting there.

    • All generations remain equally concerned that a market crash could wipe out their savings. 81% of Gen Xers and 76% of boomers are concerned.

  • The New Solution: Alternative Investments and IRAs:

    • 72% of millennials say that they would contribute more to their IRA each year if they could invest in alternative investments.

    • All generations expressed overwhelming interest in learning about alternatives, with 85% of millennials, 81% of Gen Xers, and 70% of boomers saying they’d like to learn more.

  • Education Is Key:

The report is free to download here.


Alto worked with 8 Acre Perspective, an independent research firm, to conduct a quantitative online survey of 2,000 U.S. adults ages 25-64. Of the participants, 1,200 were millennials (ages 25-40), 400 were Gen X (ages 41-56), and 400 were baby boomers (ages 57-64). All participants had at least $2,500 in investable assets and a minimum household income of $35,000, and had yet to retire.

About Alto

Alto is a self-directed financial IRA solution that enables individuals to diversify their portfolios by investing in alternative assets like private equity, venture capital, real estate, farmland, artwork, wine, and crypto using retirement funds. Alto IRA and Alto CryptoIRA® offer the same tax advantages as more conventional, legacy IRAs while providing access to investment opportunities not offered by most custodians-without complicated or hidden fees. Alto’s network partners include AcreTrader, AngelList, Eaglebrook Advisors, Masterworks, Republic, and Coinbase-which provides access to more than 175 coins and tokens-giving Alto users numerous ways to diversify their investments. Alto is not a registered broker-dealer or investment advisor. Alto does not promote or endorse individual investment opportunities and does not provide legal, tax, or investment advice to its clients.

To learn more visit: altoira.com

Contact Info:

Kristie Galvani

SOURCE: Alto Solutions, Inc.

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