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Headlines you need to know this week   —   November 20, 2018

Access influences Millennials’ retirement savings
Millennials lag in savings, but having time on their side may help them catch up for retirement. The Federal Reserve Bank of St. Louis found that the average Millennial household had approximately 34% less wealth than households in previous generations at the same age. Another study by the National Institute for Retirement Security noted that 66% of Millennials had nothing saved for retirement. The NIRS study found that lack of access to a retirement savings plan at work or being ineligible for benefits due to part-time work contributed to the savings challenge.
Equity managers favor U.S. stocks
Global fund managers seeking equity investments look to the United States for opportunity. In a recent Bank of America Merrill Lynch survey, most managers said that the United States was their favorite region for stock-picking. Respondents also noted that they expect the S&P 500 Index to rise further before peaking. Another 44% said they expect global growth to slow in the coming year.
Does the middle class have a realistic view of its finances?
According to a recent survey, most middle-class adults are optimistic about their financial security. Among survey participants, 62% said they were “somewhat” or “very” confident about their financial situation. Nearly half believe they are financially secure and not likely to miss a loan payment in the next two years. At the same time, many investors are not saving, with more than half lacking enough savings to cover emergency expenses.

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