1 in 6 Millennials Have at Least Six Figures Saved

Survey suggests generation's financial plight isn't as bad as thought
By Newser Editors,  Newser Staff
Posted Jan 23, 2018 7:00 PM CST
Updated Jan 24, 2018 12:52 AM CST
1 in 6 Millennials Have at Least Six Figures Saved

(Newser) – Millennials might not be in the dire financial straits that many assume. A new Bank of America survey shared with USA Today finds that a decent number (16%) already have a solid nest egg of six figures, and most are following a savings plan. Five key findings from the survey follow:

story continues below

  • 1 in 6 (16%) have at least $100,000 saved, double the percentage from 2015
  • About half (47%) have at least $15,000, up from 33% in 2015
  • Nearly 2 in 3 (63%) say they are saving, about the same as Generation X (64%) and less than Boomers (75%)
  • More than 1 in 4 (26%) work in the gig economy with short-term work, meaning they are largely out of luck in terms of 401ks and such
  • 60% feel "financially secure," though the top stressor (35%) is not being able to save enough
Click for the full story and more findings. (Read more millennials stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.