Millennials Expect to Retire at Age 56

Millennials are very optimistic about their financial futures, TD Ameritrade learned in a survey. On average, they expect to retire at age 56, and 53 percent expect to become millionaires, reports Plan Adviser . Twenty-five percent do not expect to get married, and 25 percent do not plan on buying a home. Additionally, 30 percent do not plan to have children. Twenty percent do not expect they will be able to pay off their student loans; collectively, Millennials have $1 trillion in student loan, credit card and other debt, TD Ameritrade says. Seventeen percent have not yet achieved financial independence from their parents. In most cases, moving out of the home triggers being financially cut off. On average, Millennials expect to begin saving for retirement at age 36, and 28 percent do not plan to ever retire.