“Millennials and Gen Z Taking Proactive Steps Towards Retirement Planning”
Are you a millennial or Gen Z individual concerned about your retirement savings? Well, recent data from Goldman Sachs Asset Management may put your mind at ease. According to their annual retirement report, younger Americans are increasingly taking proactive steps to plan for their future.
The report reveals that 67% of millennials and 60% of Gen Z individuals have a personalized retirement plan in place. This shows a significant shift in mindset compared to older generations, with only 45% of Gen Xers and roughly half of working baby boomers feeling behind schedule with their savings.
What sets the younger generations apart is their proactive approach to personal savings. Goldman found that 69% of millennials and 68% of Gen Z individuals report that their savings are either ahead of schedule or on track. This level of financial responsibility at a young age is commendable and sets a solid foundation for a secure retirement.
To further bolster their retirement savings, younger investors can explore long-term investment options such as ETFs. One fund that stands out is the Goldman Sachs MarketBeta U.S. Equity ETF (GSUS). This fund provides diversified exposure to the broad equity market with a low net expense ratio of 0.07%.
The GSUS fund aims to deliver similar investment results to the Solactive GBS United States Large & Mid Cap Index, which measures the performance of the mid- and large-cap segment in the U.S. With a wide, diversified equity portfolio, GSUS can serve as a core position for investors looking to grow their retirement savings over time.
In a time where retirement concerns are ever looming, it’s refreshing to see younger Americans taking charge of their financial future. By setting up personalized retirement plans and staying ahead of their savings goals, millennials and Gen Z individuals are paving the way for a secure and comfortable retirement. So, if you’re a young investor looking to secure your financial future, consider following in their footsteps and start planning ahead today.
