Your Gen X and Gen Y workers may finally be saving some of their hard-earned cash, but it's not going into their 401(k)s.
New research from LIMRA suggests that the more than 116 Gen X and Gen Y consumers in the U.S. understand that they really do need to make contributions to be able to retire – ever – but their priorities are elsewhere.
Among Gen X consumers polled by the organization in "Sowing the Seeds for Retirement," fewer than half (46 percent) picked retirement as their top reason to save, though they do at least rank retirement planning higher than savings costs including vacations (38 percent), home improvements (29 percent) or education costs (26 percent).
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