Instead of trying to picture themselves 30 or 40 years down their career path, millennials should frame their retirement savings in ways that make sense now, writes Patrick Kennedy of Voya Retirement Solutions. He advises they invest in human capital -- an advanced degree, extra on-the-job training -- that raises earning potential. Then, they should automatically set aside "a small amount from each paycheck -- at the time it is received -- to a savings account."

Related Summaries