Millennials explain why they have nothing saved for retirement

Pensions are disappearing. The future of Social Security is uncertain. It's likely we'll live longer lives.

But most Millennials still aren't putting away any money for retirement.

About 66% of people between the ages of 21 and 32 have absolutely nothing saved for retirement, according to a report from the National Institute on Retirement Security.

CNN heard from dozens of Millennials about why they have little or nothing saved. For the most part, they believe they'd be better off putting their money elsewhere.

Some want to pay off student debt. Some are trying to build up their own business. Many graduated during the recession, worked low-wage jobs for a few years and then went back to school to improve their job prospects.

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For others, there are more immediate costs like child care and rent. They're still building up emergency savings and the idea of putting money in an account they can't touch for 30 years doesn't make a lot of sense to them, despite the advantage of compounding interest. Here are four of their stories.

Focused on student debt