Study finds Gen Z doing an “extraordinary” job saving for retirement

Despite being the youngest Working Generation, Gen Z is Apparently Doing a Great Job Saving for Retirement

Collage of financial banking symbols with portrait of young woman
(Image credit: Getty)

A recent study from TransAmerica Center for Retirement Studies shows that, despite being the youngest working generation, Gen Z is doing a remarkable job saving for retirement. Over 30% of Gen Z is prioritizing retirement savings, and 67% of those that have been offered a retirement plan are saving for it. 

Gen Z — the post-Millenial generation, born roughly between 1997-2012 — are mostly in their teens, but the oldest among them is already 22 and by  2025, they'll account for 27% of the workforce. The study shows that for workers ages 18 to 25, the median they have saved — across retirement accounts — is $33,000. This focus on future financial security is not surprising given the instability in the work market caused by the pandemic and Gen Z's clear-eyed pursuit of good pay and compensation — a shift from the Millenial values of personal development and wellbeing at work.

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.