Older millennials fear they won't ever be able to retire

Half of high-income millennials ages 30 to 34 fear they'll have to work forever because they won't be able to save enough to retire. [More:​ Young adviser's focus on 'joy, security, confidence' resonates with millennials] That's one take-away from a recent study that focused on high-income millennials, those with a minimum annual income of $100,000 for single people or $150,000 for married or partnered millennials. The survey was conducted by the Spectrem Group, a wealth advisory company, and offers insight for the demographic that came of age during America's worst economic crisis since the Great Depression. [More: 6 myths about millennials that could harm adviser businesses] In particular, millennials who are now 30-34 years old — meaning that they likely graduated from college in the depths of the downturn, when hiring in many industries had dried up — are the most cognizant of or concerned about finances. That "middle" cohort, scarred by memories of a dismal employment market, are also far more willing to work at a job that they might not like than their younger or older peers. [Recommended video: Next generation clients want advisers to help them live better lives] High-income millennials under 29, who graduated from college when the U.S. economy had started to recover, are more optimistic, the survey found: They're more willing to hold out for a job they enjoy, and less worried about having to work forever. Middle Millennials Insights: • Older high-income millennials are more concerned about having a job that pays well than a job that is fulfilling. • More than a third of millennials say firms that offered student loan payoff assistance influenced their career decision. • One quarter are concerned that retirement will be forced upon them or their spouse before they're ready. Register today for our Future of Financial Advice event on Nov. 20.