New Report Says 1 In 6 Millennials Have $100,000 Or More In Savings

by 1 year ago
piggy bank savings

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Millennials have been blamed for killing everything from big beer to Applebee’s to cereal to even napkins. However, one thing millennials are not killing is savings accounts. A new report by Bank of America stated that 1 in 6 millennials has $100,000 or more in savings.

There are many stereotypes regarding millennials about being broke because of overwhelming student debt. But it seems that a great number of millennials are actually saving money, and many are saving a significant amount of wealth. Bank of America teamed up with online survey platform GfK to investigate the personal finance situations of Americans. They polled 1,500 people, aged 18-71, during the period of September 22 until October 16, 2017. In the bank’s Better Money Habits Millennial Report revealed that millennials are fiscally very responsible for the most part.


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