Between layoffs and unexpected medical costs in the wake of COVID, the pandemic caused financial setbacks for thousands of working Americans. But for one demographic, it also granted them the time and space to kick-start their savings.
Nearly one-in-three millennials reported boosting their funds, saving more than $4,200 on average, according to the latest New York Life Wealth Watch survey. The pandemic has also prompted millennials to practice wealth-building habits by seeking out advice from financial professionals.
