"Generational Retirement Savings Trends: Millennials and Gen Z Outpacing Older Generations"

Millennials face a challenging retirement outlook due to policy changes, longer lifespans, and higher student debt, with 38% projected to have inadequate retirement income at age 70. Factors contributing to their wealth gap include student loans and the shift from pensions to 401(k)-type plans. However, their higher educational attainment and potential for increased retirement savings through 401(k) enhancements offer room for optimism. Experts recommend incremental savings increases and prioritizing retirement savings over other financial goals.