"Once considered a cornerstone of wealth-building, homeownership is now viewed as a barrier to retirement readiness. About 35% of respondents cited rising housing costs including rent, mortgage payments, property taxes and other expenses as the biggest obstacle to preparing for retirement. That figure surpassed concerns over market volatility and economic uncertainty (29%), insufficient retirement income (28%), and financial support for children or aging parents (27%)."
"When asked which type of debt poses the greatest threat to a secure retirement, 46% pointed to mortgage or home equity loans, followed by credit card debt (39%) and medical or healthcare debt (37%). Despite these pressures, Millennials are taking action. Since early 2025, many have adjusted their retirement strategies in response to inflation (67%), international trade policy (64%) and rising housing costs (60%)."
"Still, 22% worry their savings won't last more than 14 years, and 10% say their retirement funds are already dwindling. Interestingly, while Millennials cite housing costs as their top challenge, financial advisors see things differently. Eighty-two percent of advisors said healthcare expenses are the most significant factor affecting Millennials' retirement readiness compared to only 9% who cited housing prices or mortgage rates."
An online U.S. survey included 510 advisors and 2,007 investors with at least $10,000 in investable assets; Millennials were defined as ages 29 to 44. Homeownership is viewed as a barrier to retirement readiness. Thirty-five percent cited rising housing costs—including rent, mortgage payments, property taxes and other expenses—as the biggest obstacle to preparing for retirement, surpassing market volatility (29%), insufficient retirement income (28%) and financial support for children or aging parents (27%). Forty-six percent identified mortgage or home equity loans as the greatest debt threat, followed by credit card (39%) and medical debt (37%). Since early 2025, many Millennials adjusted retirement strategies for inflation (67%), international trade policy (64%) and rising housing costs (60%). Half opened retirement accounts and 22% opened brokerage accounts. Twenty-two percent worry savings won't last more than 14 years and 10% say retirement funds are already dwindling. Eighty-two percent of advisors cited healthcare expenses as the most significant factor affecting Millennials' retirement readiness, while 9% cited housing prices or mortgage rates.
Read at www.housingwire.com
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