The wealthy millennials who are saving early still think that they are going to retire with debts

The wealthy millennials may have enough money, but they are not naive.

Financial services firm DA Davidson recently conducted a survey of 1,000 US adults with at least $ 250,000 in badets to invest and found that three quarters of respondents had started saving before the end of the year. 35 years old.

The company then broke down the data by generation, focusing on the millennium, defined as 21 to 38 years old. Ninety-five percent of those surveyed said they started saving before age 35. and have six-figure sums to invest.

And yet, despite having 50 times more money than the average American millennium, 36% of wealthy millennial respondents believe they will still retire with debts. In total, 28% of those surveyed plan to retire or have already done so with debt.

According to a report by MagnifyMoney, Millennials have a much heavier debt than their parents at their age, their liabilities representing 44% of their badets. Debt from student loans and credit cards can sometimes seem insurmountable, which may explain why many Millennial women surveyed by D.A. Davidson are still hooked when they retire.

But it seems that respondents in the millenium survey also expect to exhaust their savings, including taking care of their families: 61% think of financially supporting an adult child and 66% think support an aging parent.

Although the survey reflects a small sample, this is not the first time millennials have been cautiously optimistic about their wealth. According to a previous poll of INSIDER and Morning Consult, about 38% of millennials earning $ 100,000 a year or more think of being middle clbad.

"Millennials experience the worst of scenarios because they grew up there," said Andrew Crowell, Vice President of Wealth Management at D.A. Davidson, in a press release. "They have seen the impact of the latest recession and the resulting debt on family life and retirement goals.It is clear that they are looking for ways to pay back to their parents. while limiting the impact this debt can have on the next generation. "

The fact that even affluent millennials expect financial hardship underscores the seriousness of the crisis of affordability that plagues the whole generation. As Hillary Hoffower of Business Insider previously pointed out, today's youngest generation faces a rapidly rising cost of education, child care, housing and housing. and health care that hinders their ability to build substantial wealth.

According to Mr. Hoffower, it is clear that the millennia are late in financial terms, but experts say that it is possible that they catch up. Low unemployment, risk-averse behavior and the potential of baby boomer legacies all contribute to strengthening the millennium financial outlook.