Young people are optimistic when it comes to their financial futures.
According to new research from Charles Schwab, which surveyed 2,000 young Americans aged 16 to 25, a resounding 76 percent think they'll have a better financial future than their parents. And they expect to retire, on average, at age 60. That's "seven years earlier than full Social Security benefit eligibility for their age bracket," the report notes.
Carrie Schwab-Pomerantz, a financial adviser, board chair and president of the Charles Schwab Foundation, thinks that their optimism is "perhaps unrealistic," she tells CNBC Make It.
The good news is, "a big percentage put saving for retirement as a high priority," she says. "That's progress." But the numbers tell a different story: The report found that young adults have just $1,628 in savings on average and have already racked up $8,003 in debt.