From Yahoo Finance: 2025-04-26 15:00:00

A study by Northwestern Mutual reveals that Gen Z starts saving for retirement at 24, millennials at 29, and boomers at 37. Younger generations aim to retire earlier, with Gen Z targeting age 61 and millennials at 64. Access to financial information and tools like automatic savings apps contribute to earlier savings habits.

Gen Z’s average starting age for retirement savings is 24, with an ideal retirement age of 61. However, Gen Z must consider longer life expectancies when planning, as many believe they may live to 100. Retirement may evolve into a different form for Gen Z, focusing on financial freedom and purposeful work.

Despite their confidence, Gen Z must back up their retirement readiness with a solid strategy. Financial literacy, effective retirement strategies, and wise investing are crucial for long-term financial security. Ongoing education on market conditions and personal finance will help maintain confidence in their retirement plans.



Read more at Yahoo Finance: Young Americans Start Saving Sooner, Want To Retire Earlier Than Boomers