More Americans Are Increasing Their Retirement Savings, Study Finds
28 percent of American workers are saving more for retirement this year compared to last year, finds a Bankrate.com report. This marks the 4th consecutive time an increasing number of Americans have increased their retirement savings, up from 23 percent in 2017 and 21 percent in 2016.
The study also found older Millennials, those who are 28 to 37 years of age, had the highest likelihood of saving more for retirement than last year at 39 percent, compared to 27 percent of younger Millennials and 26 percent of Gen Xers. Baby Boomers and the Silent Generation were more likely to be saving the same amount.