Investing advice millennials should consider [Infographic] Retirement might seem like a long way off for many millennials, but financially preparing for this coming stage is crucial. Millions of American senior citizens live in poverty and the only means of income for three-quarters of seniors is Social Security.While Social Security will certainly help most citizens in their retirement years, relying entirely on this source can cause financial strain. To have a stress-free retirement, without worrying how you will pay for monthly costs or unexpected medical fees, it's best to start saving today. Working millennials can look into whether their employer offers a 401(k) to begin their savings. Taking advantage of this program will help alleviate financial worries in the future. If there isn't a 401(k) program available to you, an Individual Retirement Account is also worth looking into.Aside from supporting yourself in your post-work years, saving money is good to do when you're young to help cover unforeseen fees. It's generally a good idea to stow away between three and six months of your salary. This can help in the event of a job loss or medical emergency.Setting aside a portion of your paycheck can also help those who are working toward paying down long-term debt. More than 80 percent of millennials have some form of this. Paying it off as soon as possible will save you a significant amount of money in interest fees.A budget is the best tool you can use to begin to save for retirement, create an emergency fund or pay down debt. More than half of millennials say they lack financial resources to accomplish these goals. However, by forming a budget, you can determine where you are overpaying and how you can save more money. The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.