There's a big difference in financial security between New Jersey residents who are retired and those who are not.

Fuse, ThinkStock

According to the spring 2015 report from Merrill Edge, nearly half of millennials and members of Generation X claim they won't have enough money to get through retirement when the day eventually comes.

The report surveyed thousands of people with investable assets between $50,000 and $250,000.

Nearly 70 percent of the younger generation pool said they expect to be stressed about finances during retirement.

"When you try to predict 30-40 years out, the fear of the unknown is there and obviously brings on a lot more stress," said Raymond Tenpenny, regional sales executive for Merrill Edge.

Merrill Edge

On the opposite end of the spectrum, 85 percent of already retired New Jersey residents said they have enough money to get them through their golden years. Nearly 60 percent said they are not stressed about finances.

Sixty-three percent of retirees said they guaranteed themselves a stress-free retirement by funding a retirement account beforehand. Fifty-eight percent of the younger crowd said they are doing so right now.

Tenpenny noted "it's never too late to save," encouraging millennials and Gen X-ers to pay themselves as the years go by and they're working hard.

"What we've noticed from time to time is that younger generations are not seeking help from professionals as maybe the older generations did," Tenpenny said. "When you have a plan and a budget in place, you're going to feel more confident about your retirement."

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