Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community. Amy Podzius is a director in the field consulting group at TIAA-CREF in Tempe, Ariz.

Recently, TIAA CREF released the results of a new survey that examines the investment habits and retirement outlook of Generation Y investors. What’s most noteworthy and maybe even surprising about the survey is that the youngest generation of investors appears more guarded and hesitant when it comes to investing for their...