Nearly 60% of Generation Z and early career professionals are thinking about and planning for retirement, according to an Oct. 2 LinkedIn News post.
In the LinkedIn poll, which garnered 747 votes, 16% of respondents said they do not believe retirement planning is possible. Another 14% said it is too soon to plan and 12% said they were unsure or worried about it.
Gen Z professionals, who were born between 1997 and 2012, are contributing to 401(k) plans more frequently than millennials did when they entered the workforce. Possible reasons include a provision in the Secure 2.0 Act, which requires eligible employees to be automatically enrolled in 401(k) and 403(b) plans, and the emergence of new technologies. Gen Z has also shown an interest in personal finance podcasts and budgeting apps.
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