A new survey from TD Ameritrade finds that most younger Americans are starting to save for their retirements at a much earlier age than their parents did to avoid having to rely on social security or other income sources in their golden years.
The survey of 2,001 members of Generations X, Y and Z (people between 13 and 22 years of age) revealed that 59% of Generation X and 56% of Generation Y make regular, automatic contribution to their retirement savings compared to only 46% of non-retired baby boomers.
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