Millennials Surpass Older Workers with Retirement Savings
By Amanda Umpierrez Source: 401K Specialist Despite facing financial retirement planning hurdles, Millennials are coming out on top with their retirement savings. That’s the latest finding from Vanguard’s newest Retirement Readiness report, released today, which finds Millennials workers are set to replace 58% of their prior earnings during retirement, and eight percentage points over what was estimated for Baby Boomers. Using its new forecasting tool, the Vanguard Retirement Readiness Model (VRMM), Vanguard divides its cohorts into three generations: early [...]