Answer: 12%

From Center for Generational Kinetics 2017 study:

In the national study, a surprising 12% of Gen Z is already saving for retirement. That is a much bigger number than one might anticipate given the youth of Gen Z in the study, who are ages 14 to 21. Diving further into the question, it was discovered that 35% of Gen Z plans to start saving for retirement when they are in their 20s.

Questions:

• Have you thought about saving for retirement yet? 
  • If yes, have you acted upon it?
  • If no, when you plan on saving for retirement? 
• What do you think would be a good investment to make to save for retirement? Savings account? Stock market? 
• Do you think the 20s are a good time to start saving for retirement? Why or why not?

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Here are the ready-to-use slides for class.  

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Interested in demonstrating the power of compound interest (and investing at a young age)? Check out this NGPF Data Crunch: Why Should You Invest When You Are Young? 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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