What’s the right retirement savings target for millennials?

A new study by NerdWallet reveals that 22 percent of pay could be the new retirement savings goal for millennials. If you add this to what it’s costing them to repay student debt, higher housing costs and an uncertain job market, no wonder so many millennials may feel doomed financially.
But will they really need to save 22 percent of pay for retirement? If you’re a millennial, it depends on how optimistic or pessimistic you are about a number of factors, such as your assumed retirem