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Report: South Florida's youngest workers lag in 401(k) savings

Report: South Florida's youngest workers lag in 401(k) savings

South Florida's youngest workers -- the so-called Millennials or Gen Y -- are falling behind their U.S. peers in saving for retirement, according to new data. Tri-county employees born between 1981 and 1997 saved 46 percent less than the U.S. average for their age group -- $11,833 vs. $22,100 – as of June, according to Fidelity, the nation's largest 401(k) work retirement savings manager. Michelle Griffith, 31, an account director for a Plantation public relations firm, said she's currently able to stash only 2 percent of her income into a retirement account after paying bills and setting aside money for a down payment on a house. "It's pretty low...

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