Millennials managed to stash away more cash than any other generation last year, according to New York Life's recent "Wealth Watch" survey. Just over half of American adults — 52% — met or exceeded their savings goals in 2023, managing to save an average of $6,138 despite facing economic challenges like inflation and high interest rates. "Having a financial strategy in place plays a key role in meeting savings goals," he says. "63% of adults with a financial strategy met or exceeded their savings goal for 2023, compared to only 37% of those without a financial strategy." They're also more likely than older generations to have long-term savings goals, like purchasing a home.

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Persons: Millennials, —, Donn Froshiesar, Froshiesar, Froshiesar isn't, Zers, They're, Xers Organizations: CNBC Locations: New York