I came across an article from Kiplinger saying how Gen Z are doing really well with saving for retirement. Some are putting away 20% on their income. Median account value is $33,000 for the average age of 18-25.
If they stop contributing and earn the historical average S&P 500 return of 10% over 40 years then they can end up with $1-2 million by age 65.
It seems like the younger generations will be okay. Heck, with all the contributions then this might put a floor on the markets and make things more efficient.
Thoughts?
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