Millennials have a poor reputation when it comes to saving for retirement, but a new NerdWalletreport finds that it’s undeserved — at least among millennialparents.
The gap can be pretty wide, too, with millennial parents (aged18–34) contributing a median of 10 percent of their annual incometo their retirement savings. Generation X parents (aged35–54) are only managing a median of 8 percent, while boomerparents (aged 55+) lag behind, only setting aside 5 percent oftheir median annual income. (Incidentally, all respondents to thissurvey question were employed, NerdWallet points out, so retiredbaby boomers did not skew that generation’s contribution rate.)
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