I edit the text and turned it into a list.

How much money each generation has saved for retirement

According to Northwestern Mutual’s 2021 Planning & Progress Study, which surveyed more than 2,000 American adults...

  • The adults of gen Z (ages 6 to 24) have an average of $35,900 in personal savings and $37,000 saved for retirement.

  • Millennials (ages 25 to 40) have an average of $51,300 in personal savings, while their retirement accounts have an average balance of $63,300.

  • Gen Xers (ages 41 to 56) are slightly ahead of their younger counterparts, with an average of $67,100 in their personal savings and $98,900 put away for retirement.

  • Baby boomers (ages 57 to 75) have an average of $102,400 in personal savings and $138,900 in their retirement accounts.

Tweet

Edit

Source: Northwestern Mutual - Planning & Progress Study 2021

  • D61 [any]
    ·
    3 years ago

    The study was conducted by The Harris Poll on behalf of Northwestern Mutual. This wave included 2,320 American adults aged 18 and older who participated in an online survey between March 16 –26, 2021. Previous waves included 2,650 American adults aged 18 or older who participated in an online survey between February 12 –25, 2020 and 2,702 adults aged 18 or older who participated between June 26 – July 10, 2020.

    From the PDF that the article linked to. I wonder why this only used a snap shot from March and not all of the samples.

    • 420blazeit69 [he/him]
      ·
      3 years ago

      who participated in an online survey

      This is why these numbers are nonsense: selection bias, basically. Who with $1000 in their bank account is going to bother with a survey about retirement saving?

      • invalidusernamelol [he/him]
        ·
        3 years ago

        The link to the survey was exclusively served in the Northwestern Mutual high yield money market retirement savings account page.

      • gammison [none/use name]
        ·
        3 years ago

        The sample size is actually not that bad, however it's not random, so it's garbage.

      • D61 [any]
        ·
        3 years ago

        It seems like those numbers should be higher than a few thousand for something that could have been done online.

        And I wonder how they got their candidates to take the online survey's.