> Gen Z started saving for retirement at the median age of 19, earlier than any other generation
? Median? These numbers seem unrealistic for anyone I know who went to college, and those who didn't are in low pay jobs with no retirement plan
? Median? These numbers seem unrealistic for anyone I know who went to college, and those who didn't are in low pay jobs with no retirement plan
Still a useful stat in the relative sense to compare inter-generationally, or to previous surveys.
Reminds me of Carlin's bit about the softening of language.
Not necessarily. It is quite possible for the median to be 19 even with nobody saving before the age of 19.
Consider a case of 10 people. 6 started saving at the age of 19. 4 started after the age of 19. 0 started saving before the age of 19. The median age is: 19.
> That sounds off... Considering what type of jobs they would have had.
Why?
1. Jobs aren't the only way to get money.
2. Typically parents cover living expenses at that age, so job income is pure profit.
3. You don't need huge sums of money to invest.