“Gen Z is stashing away 14% of income for retirement — more than older generations, study shows”
July 26, 2022
“…Generation Z workers — defined in the study as those ages 18 to 25 — are socking away, on average, 14% of income for their golden years, according to new research from BlackRock. That compares with 12% for their older counterparts: millennials (ages 26-42), Gen Xers (ages 43-55) and baby boomers (ages 56 to 75).
At the same time, the total share of Americans who think they are on track with their retirement savings has fallen to 63% from 68% in 2021, the research shows. Plan sponsors’ confidence also is down: 58% say their employees are on the right path, compared with 63% last year…”