When we think of financial security, the prospect of a home of one's own is often top of mind. But for millennials, not so much.
In a new survey of American adults commissioned by the National Endowment for Financial Education, half the respondents said retirement savings were their top financial goal, and just 13 percent said home ownership was a top priority. That's a shift from 2011, when 47 percent prioritized retirement and 17 percent focused on home ownership.
For respondents ages 18 to 34, the millennials, the difference was less pronounced—but the shift over time was notable. In 2014, 29 percent said retirement savings was their top goal, and home ownership was tops for just 21 percent of them. Three years earlier, home ownership was the top goal for 26 percent of millennials, while adequate retirement savings mattered most to 25 percent.
Not only that, the share of millennials whose top priority is retiring early has jumped from 6 percent in 2011 to a whopping 26 percent this year.