Two thirds of US millennials are already saving for retirement
Almost two thirds of millennials in the US have begun saving for their retirement, according to data from digital investment firm Stash, which debunks the common belief that younger workers aren't making financial provisions for the future. The company surveyed 27,100 people, the majority of whom are Stash customers. It found that 43% of millennials are investing to buy a home, while the next most common saving goal was to pay for a holiday, followed by buying a car and paying for college.
61% of investors in the millennial generation are saving for retirement, buying a home, or for other long-term financial goals, according to a survey conducted by digital investment company Stash.

This somewhat goes against the popular perception that savers in the millennial generation are both rare and only interested in short-term rewards.

The next most common reason for sasving was buying a home; 43% of millennial respondents are investing to save for this goal, according to Stash’s data, compared to 20% of Gen X-ers, and 6% of boomers.

This is the first study the investment platform has conducted, surveying about 27,100 participants for the report, 26,000 of which were Stash investors.

While millennial investors are gearing up for these financial goals, only 48% of them contribute their savings to a 401(k) plan.

The full report can be viewed here.