Ric Edelman, the founder and executive chairman of Edelman Financial Services, told Business Insider in a recent interview that technology will enable humans to live longer, and they should prepare to live to 110 or 120 years old. That's well beyond when most expect to die, and most, consequently, are not saving enough for their lifetime post-working. The good news is that Edelman also believes people will continue to work well past when they're currently retiring. "You're going to work until you're 75, 85, 95, 105. And don't worry about it. It's not as horrific as it sounds, because you're going to want to do that," he said.
These "digital natives" really do that much self-searching, according to Bank of America's Trends in Consumer Mobility Report. Aside from their reliance on mobile devices, the study found that three-quarters of millennials use a mobile banking app, compared with two-thirds of Gen-X'ers, 47 percent of baby boomers and 40 percent of seniors. Millennials are also most likely to use apps for things like saving for college (45 percent, compared with 29 percent), planning for retirement (35 percent, compared with 28 percent) and buying a home (34 percent, compared with 24 percent).
High school students want to learn about money management. That's what more than 5,000 young adults told The National Financial Educators Council in a survey in which they were asked, "What high school–level course would benefit your life the most?" Nearly half selected money management/personal finance, compared with 18 percent for math, 14 percent for social studies and 17 percent for science. "It's not the 1950s anymore," NFEC CEO Vince Shorb said in a statement. "Public schools have been teaching similar subjects for over 60 years. There have been major technological and economic shifts, meaning this limited focus leaves graduates unprepared for the real world. We call upon the education system to teach subjects that will benefit 100 percent of students. The time is now to start teaching this subject."