They have a reputation as a spendthrift generation, but millennials are actually more wary about money than one might think — and many are already saving for retirement, putting them more in line with the Depression-era generation.

That's according to a study from TD Ameritrade, which found in its "Millennials and Money Survey" that 72 percent of millennials are already saving for retirement. And even if they don't feel financially secure now — as 85 percent of them say — they expect to get there in the future.

And 77 percent said they're more likely to stash an extra $1,000 in a savings account than invest it in the stock market, making them more like the Silent Generation than baby boomers or Gen Xers. In fact, 80 percent have a budget and 51 percent have an emergency fund.

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