Gen Z's retirement savings have grown more than any other generational cohort over the past year, Fidelity Investment's latest retirement analysis reveals.
Fidelity defines Generation Zers as those born between 1997 and 2012.
The average 401(k) balance for a Gen Zer is about $7,100, as indicated by Fidelity data provided to CNBC Make It — significantly higher than the cohort's median 401(k) balance of $2,500.
This disparity isn't unique to Gen Z: Americans' average overall 401(k) balance is $108,200, compared to a median of around $23,700.
Here's how much Americans have saved in their 401(k)s by generation, according to Fidelity:
Persons:
Gen, Gen Zers, It's
Organizations:
Fidelity, CNBC