Most millennial and Gen Z employees are in for a rude awakening when they retire because they aren’t saving enough and they’re getting bad tax advice, according to the head of a Phoenix-based wealth management firm.
Employees born in the 1981-to-2012 millennial and Gen Z eras just aren’t as concerned about retirement planning as their parents and grandparents were, says Stewart Willis, president of Asset Preservation Wealth & Tax. He says the attitude difference is quite noticeable in the clients at his firm, which has offices in Indianapolis, Las Vegas and Portland, Oregon, in addition to Phoenix.
