Millennials have a poor reputation when it comes to saving for retirement, but a new NerdWallet report finds that it’s undeserved — at least among millennial parents.
The gap can be pretty wide, too, with millennial parents (aged 18–34) contributing a median of 10 percent of their annual income to their retirement savings. Generation X parents (aged 35–54) are only managing a median of 8 percent, while boomer parents (aged 55+) lag behind, only setting aside 5 percent of their median annual income. (Incidentally, all respondents to this survey question were employed, NerdWallet points out, so retired baby boomers did not skew that generation’s contribution rate.)
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
