Many generations focus on saving

Nearly 60% of respondents in a recent survey said they were on track to save more than $20,000 this year toward retirement, up from 51% of respondents in 2021. The study found 82% of these savers (defined as Gen X, Gen Y, and Gen Z retirement plan participants saving 90% or more of the IRS max in their 401(k) plan), feel confident that their savings will endure a recession.