But it pays to take at least some of the doom and gloom with a grain of salt. Look harder and you'll see that many of the surveys showing millennials need help with saving or student debt were commissioned by financial companies selling — unsurprisingly — advice and loan refinancing.
"People always talk about 'kids these days,'" said Kansas City financial planner Cindy Richey. "But this generation has witnessed their parents' mistakes and seen what happens if you don't save enough for retirement. They might struggle at first, but I think they'll be able to create a better financial future."
Indeed, more young people today are investing in workplace retirement plans — with larger savings and greater stock allocations — compared with a decade ago. And millennials have more than just 401(k) plan auto-enrollment working in their favor; thanks to trends in the financial industry, investing to build long-term wealth has never been cheaper or easier.
Here are three big reasons to be bullish on millennial investors.