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Thinking about your retirement timeline? The youngest professionals already are.\u00a0<\/p>\n
In fact, the number of Gen Z households with retirement accounts is three times higher than that of Gen X at the same age, according to a recent report<\/a> from the Investment Company Institute (ICI).\u00a0\u00a0<\/p>\n In its annual report<\/a> on financial wellness, Payroll Integrations<\/a> explored the perspectives of employees and employers across generations \u2014 and the topic of retirement\u00a0highlighted a noteworthy divide.\u00a0<\/p>\n Even though Gen Z professionals might be the furthest group from retirement, they\u2019re the most likely to believe they\u2019ll be able to retire early, the report found.\u00a0<\/p>\n Sixty-two percent of Gen Z workers expect to retire before age 65, compared with 36% of millennials, 31% of Gen X and just 3% of Boomers.<\/p>\n Gen Z savers don\u2019t just anticipate reaching that major retirement milestone early; they\u2019re also most confident they\u2019ll enjoy a comfortable retirement, according to the data.\u00a0<\/p>\n Nearly half (48%) of Gen Z workers believe they\u2019ll be able to retire comfortably, compared with 38% of millennials, 31% of Gen X and 22% of Boomers.<\/p>\n Gen Z\u2019s relative preparedness when it comes to retirement savings might contribute to the group\u2019s optimistic outlook, the report notes.\u00a0<\/p>\n Ninety percent of Gen Z is already contributing to a retirement plan, compared to 81% of millennials, 83% of Gen X and 75% of Boomers.<\/p>\n In U.S. Bank\u2019s recent report on young Americans\u2019 investing patterns<\/a>, president of wealth management Scott Ford stressed the value in proactive financial wellness. <\/p>\n \u201cThere may be no single playbook for building wealth, but having a plan can help you understand the choices in front of you, assess them against your goals and decide what makes sense for your financial situation,\u201d Ford said. <\/p>\n<\/p><\/div>\n Thinking about your retirement timeline? The youngest professionals already are.\u00a0<\/p>\n In fact, the number of Gen Z households with retirement accounts is three times higher than that of Gen X at the same age, according to a recent report<\/a> from the Investment Company Institute (ICI).\u00a0\u00a0<\/p>\n In its annual report<\/a> on financial wellness, Payroll Integrations<\/a> explored the perspectives of employees and employers across generations \u2014 and the topic of retirement\u00a0highlighted a noteworthy divide.\u00a0<\/p>\n<\/p><\/div>\n<\/p><\/div>\nKey Takeaways<\/h2>\n
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