News Millennials Will Need $2 Million By the Time They Retire Badass Woman spotlights women who not only have a voice but defy the irrelevant preconceptions of gender. By Shalayne Pulia Shalayne Pulia Instagram Twitter Shalayne Pulia is a New York-based writer who covers all things food, fashion, mental health, and pop culture. She was previously Assistant Editor for InStyle, where she produced the Badass Women franchise. InStyle's editorial guidelines Published on November 12, 2018 @ 01:52PM Pin Share Tweet Email Beth Kobliner is here to change the way we think (and talk) about money. With a more than 30 years in personal-finance journalism, and with two New York Times best-selling finance books under her belt, she knows a thing or two about how to save hard-earned cash. And she has some advice for women looking to alleviate the money stress in their lives. Kobliner says that her parents were very open about managing their finances while she was growing up, which is part of the reason she became interested in writing about personal finance. “My upbringing, along with countless chats over coffee with friends and family, taught me something: We need to open up conversations about sensitive money matters, because there’s no reason to go through the anxiety of debt, the complexities of investing, the struggle to save … all alone,” Kobliner writes on her website. Kobliner cautions millennials to pay extra attention because, she says, by the time the social media generation retires, they’ll need about $2 million saved up in funds. As Money reports, a whopping 66% of millennials have zero retirement savings. “It’s so important to understand, first and foremost, [saving is] not that hard. It’s basic,” she says. For Kobliner’s list of tips, check out the full video above and read through the excerpts below. Vanessa Hudgens on Getting Her Card Declined at Cartier 1. Get Out of Bad Debt “Understand that credit card debt is evil,” Kobliner says. “It’s sort of like a bad relationship. It’s easy to get into and bad to get out of.” She suggests paying off credit cards quickly by offering more than the minimum on monthly payments and trying to negotiate a lower interest rate, if possible. 2. Save Automatically “Smart people save money automatically,” Kobliner says. “It’s like going from three cups of coffee today to two.” Kobliner suggests setting up auto-saving directly from your paycheck into a retirement savings plan. How Jaclyn Smith Went from Charlie’s Angel to the Queen of Kmart Collabs 3. Make Your Money Grow “You should be saving at least 10-15 percent of your entire income and putting that into retirement savings accounts,” Kobliner reiterates. Her advice? Get started now and keep making your money grow. 4. Don’t Be Afraid of the Stock Market Kobliner’s hot take on investing? Put your money into a stock index fund. “You get a bundle of stocks called a stock fund so you’re more diversified,” she explains. With a stock index fund, you have different risks associated with different investments, so all your money eggs aren’t in the same basket, so to speak. 5. Talk About Money “We don’t talk about money, it’s really the last taboo,” Kobliner says. Kobliner thinks that he more these conversations happen, the more people will start saving smart.