ANCHOR LEAD: Will you have enough money when you retire? A new study finds that the fear of a going broke in retirement looms large for many Americans, but there's a surprising reason why many Millennials feel good about retirement. Brian Osuch has the story. (:60)
SCRIPT: Financial Fitness, I'm Brian Osuch. The Spring 2014 Merrill Edge Report found that many investors fear running out of money in retirement, but are unwilling to spend less today. Merrill Edge's, Aron Levine…
CUT: (Levine) Many investors over 35 appear to be taking 'a live for today' financial approach. So, they're not willing to cut spending on indulgences such as eating out or taking vacations to invest for the future.
SCRIPT: The good news is many younger Americans are planning ahead…
CUT: (Levine) More than half of Millennials surveyed began saving and investing for retirement before 24 years old compared with older generations who started at the average age of 33. But, it's never too late to streamline your finances and establish better money habits.
SCRIPT: To learn more, visit MerrillEdge.com. That's Financial Fitness from Merrill Edge. Investment products are provided by Merrill Lynch, Pierce, Fenner and Smith Incorporated and are not F-D-I-C insured, may lose value, are not bank guaranteed. M-L-P-F-and-S is a registered broker-dealer, member S-I-P-C and a wholly owned subsidiary of Bank of America Corporation. Merrill Edge is available through M-L-P-F-and-S, and consists of the Merrill Edge Advisory Center (investment guidance) and self-directed online investing.
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