Generation Z is saving for retirement at much higher rates than its predecessors. But it’s not just the kids who are all right; it’s also the settings of their 401(k)s.
Over the past two decades, Americans of all ages have increased their participation in workplace retirement plans, according to a new study by the investment firm Vanguard. But Gen Z in particular stood out: In 2021, 62% of America’s youngest workers were actively saving in a 401(k) — more than twice the rate of the same age group in 2006, when only 30% participated. This was the highest increase of any generation.
