IRVINE, CA -- Millennials might be spending the rewards of their daily grind on coffee instead of their 401K. This is according to a new survey on millennial spending.
The investing app Acorns says more than 45% of 18 to 23 year-olds have spent more on coffee than their retirement plan. The exact same finding goes for 35% of the 24 to 35-year-old surveyed too!
Think about it this way: That $5 coffee from Starbucks everyday could actually be going to early retirement.
The survey also found, 41% of the older millennials (over 24) lack financial preparedness and probably won't be able to retire until after 65.
We get it ... that cup of coffee may be hot now, but being old and broke won't be cool!