When it comes to savings, millennials are off to a good start.  According to LendEDU, young investors put away an average of $480 per month for retirement! That's GREAT.  But, it's not the most important asset that a millennial has.

According to TheStreet's Robert, Mr. Retirement, Powell there's actually a more important asset. he says it's their human capital.  And they should manage it wisely.

Savings Advice for Millennials

So, what do they do?

Among other things, Powell says hat They should invest in themselves in ways to maximize their future earning potential and they should invest in ways that complement their financial capital.

So, for instance, those with fluctuating income - say entrepreneurs - might consider investing more in safe assets while those with stable income - say school teachers - might consider investing in risky assets.

Now, not all millennials are saving. In fact, according to that same survey of 1,000 Americans, LendEdu says 37% of  young people are not investing at all. The good news, it's never too late to start.  Watch the video for more.

Ask Bob is part of TheStreet's Ask the Expert Series. Check it out below or follow us on YouTube.

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