From USA Today: Link to the article
When it comes to financial responsibility, Millennials tend to get a bad rap. Often criticized as lazy, entitled quasi-adults willing to blow their income on fancy coffee and avocado toast, they’re the last people you’d think would be on track to retire comfortably. But new data reveals that, apparently, we have things totally wrong.
In a just-released NerdWallet study, Millennial parents, in particular, are outsaving parents of every other generation, and should have the most income once retirement rolls around. Based on these recent findings, if each generation (Millennials, Gen Xers, and Baby Boomers) were to maintain its current savings rate between the ages of 26 and 67, Millennials would end up with over $1 million more in retirement than Boomers and $400,000 more than Gen Xers.