The study says younger people are saving more because they don’t expect to get pension plans. In 1981, 84% of full-time workers at large companies had pensions; by 2020, that number dropped to 28%.
The younger generation also has higher balances in their 401s than Gen Xers did at the same age.In 1981, 84% of full-time workers at large companies had pensions; by 2020, that number dropped to 28%.
Researchers found that millennials are worse off in nearly all aspects of their financial well-being. They graduated into the great recession, dealt with the COVID and a second recession. They’re also gearing up for what financial analysts predict will be another recession paired with high inflation levels.The study found that 25% of millennials plan to invest in digital currencies, compared with about 5% of baby boomers.
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