However, they are very responsible with their budgets, with 53% having an emergency fund
The majority believe they will have to work much longer than previous generations, Prudential learned in a survey
Only one-third are participating in their retirement plan
However, their fear of investing in the stock market could hurt their outcomes, a survey reveals.
They earn less than older generations, are less likely to participate in a retirement plan, and will have to contend with longer life spans and rising health care costs.
The Center for Retirement Research projects that 40% of those born between 1976 and 1985 will be unable to replace 75% of the income they received between the ages of 55 and 54 when they reach age 70.