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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.

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Source: Northwestern Mutual - Planning & Progress Study 2021

  • invalidusernamelol [he/him]
    ·
    3 years ago

    Any time I get close to hitting like $5k I end up getting arrested for something dumb, getting in a car accident, getting fired, or ending up in the hospital and it's all gone again.

      • invalidusernamelol [he/him]
        ·
        3 years ago

        Just got my first job that isn't in the service industry, got t-boned by an f150 heading home on my first week and totaled my car.

        Only had liability and the cop said it was my fault even though he was speeding so I was out a means of transport to work in a town with no transportation infrastructure.

        Couldn't get a car loan because I didn't have my job for long enough either. Luckily my SO has some money from her family and was able to float me, but I don't know anyone who has any amount of money that isn't constantly depreciating and came from like someone getting lucky and selling a house they got for $50k that's now worth $300k or dead grandparents that had good union pensions and bought land.