January 8, 2016

NO ONE HAS IT HARDER THAN THEIR FATHER DID:

Millennials Are Leading the Way on Savings : Workers are saving more of their pay for retirement, led by the youngest workers. (STAN CHOE, 1/07/16, AP)

Workers are saving more for retirement, and the youngest -- not exactly known for squirreling money away -- are boosting their savings rates faster than any other age group.

Millennials between the ages of 25 and 34 are saving a median of 7.5 percent of their pay for retirement, including whatever match they get from their jobs, according to a survey by Fidelity Investments of 4,650 households with at least $20,000 of annual income. That's up from 5.8 percent two years ago, when the last survey was conducted, and it is the largest jump among all age groups.

Posted by at January 8, 2016 6:03 PM

  

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