When it comes to saving for retirement, Gen Z "got the memo" according to BlackRock global head of retirement solutions and head of LifePath Nick Nefouse.
"What we find is at about 77% of Gen Z workers feel like they're going to be on track for living their lifestyle in retirement, basically meaning they feel there's a level of confidence that's higher than we see in other generations," Nefouse tells Wealth host Brad Smith.
Nefouse recommends Gen Z workers use target-date ETFs, which simplify investment decisions by adjusting asset allocations as individuals age. For millennials facing financial strain, Nefouse advises making retirement savings a top priority.
"Start off with something small, 5%, 6%. Make sure you're saving to that 401(k) match, and then every year try to raise it by about 1 or 2 percentage points to get to higher levels," he advises.
Watch the video above to hear Nefouse share more insight on how to confidently save for retirement and make the most of your investment strategy.
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This post was written by Josh Lynch