An astonishing number of Gen Zers aged 18 to 29 are opting to save for a vacation rather than for retirement.
Nearly half of Gen Z folks are prioritizing vacations over their retirement savings, the highest of any age cohort, according to a new report from JPMorgan **** et Management.
Paying off student loans and cobbling together emergency funds are also far more important to them than saving for their future golden years.
"This may be due to limited understanding of the benefits of starting early (especially compounding) and more immediate financial pressures — debt feels urgent, and retirement can seem distant, making it easier to defer saving," Alyson Frost, head of retirement insights at JPMorgan **** et Management, told Yahoo Finance.
In January, the firm conducted online surveys with more than 2000 people who had contributed to their defined contribution retirement plans.
Nearly half of Gen Z folks are prioritizing vacations over their retirement savings, the highest of any age cohort, according to a new report from JPMorgan **** et Management.
Paying off student loans and cobbling together emergency funds are also far more important to them than saving for their future golden years.
"This may be due to limited understanding of the benefits of starting early (especially compounding) and more immediate financial pressures — debt feels urgent, and retirement can seem distant, making it easier to defer saving," Alyson Frost, head of retirement insights at JPMorgan **** et Management, told Yahoo Finance.
In January, the firm conducted online surveys with more than 2000 people who had contributed to their defined contribution retirement plans.
19 days ago
