Bank of America reports that 63% of Millennials are saving money, about the same as Generation X and not far behind Baby Boomers. 16% of people 23 to 37 have $100,000 in savings—that’s double the number of young people who had that much saved in 2015. Nearly half have $15,000 saved, up from 33% in 2015. Despite early stereotypes of Millennials as being foolish with money, they are proving to be financially responsible.
Top priorities for their savings:
-buying a home