Skip to Content

ACCC Provides Retirement Strategies for Millennials

Retirement Strategies for Millenials 

American Consumer Credit Counseling provides five strategies for millennials to help them retire successfully  

(Boston, MA) – October 27, 2017– Retirement may seem like light-years away for most Millennials, but the earlier they start planning, the better off they will be. Being aware of different savings and investment options is the best way Millennials can ensure they are saving enough for retirement. In an effort to prepare Millennials, national nonprofit American Consumer Credit Counseling offers five retirement strategies.

“Right now is the ideal time for Millennials to start saving for retirement so that they can increase funds and accumulate interest over a longer period of time,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, based in Newton, MA. “Paying down debt, taking advantage of employer matched 401(k) plans, and making smart investments are all great ways to start preparing for the future.”

According to a study by T. Rowe Price, Millennials save on average 8 percent of their salaries for retirement. The study also found that almost half (48 percent) of Millennials believe they will work at least part-time during their retirement. According to The Motley Fool, 19 percent of Millennials automatically increase their retirement contributions, compared to 15 percent of Generation Xers and 10 percent of baby boomers.

American Consumer Credit Counseling provides five strategies to help Millennials achieve a successful retirement.

  1. 401(k) – take advantage of 401(k) plans. Many employers will offer a match for some, if not all, of your 401(k) contributions. Ask around and find out what level of matching your company offers. This option is tax-deferred.
  2. IRA – Unlike 401(k), Individual Retirement Accounts are not offered through your employer and all investments are made by you. This option is also tax-deferred.
  3. Invest – consider a balanced approach with high and low risk investments. High risk investments can generate high returns, whereas low risk investments have a smaller chance of losing money.
  4. Pay down debt – focus on paying down all debt so you can start contributing more to your retirement account.
  5. Emergency Fund – sept up an emergency fund where 10 to 15 percent of every paycheck goes in case of an emergency such as job loss or an unexpected medical expense.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling & Student Loan counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180• Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit  


American Consumer Credit Counseling (ACCC) offers non-profit credit counseling and debt relief programs for consumers nationwide who find themselves drowning in debt and wondering "How do I get out of debt?" Our certified credit counselors have helped thousands of individuals and families learn how to reduce credit card debt and get out of debt through a variety of credit reduction strategies. Our credit card debt consolidation and debt management plans help achieve credit card relief by consolidating credit cards payments to pay credit card debt down more quickly. We also offer bankruptcy counseling, housing counseling and other financial education services.

Better Business Bureau Mass Housing Approved National Industry Standards for Homeownership Education and Counseling Council on Accreditation NFCC Member