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Price Chg %Chg 1 Day
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/quotes/zigman/3870025/realtime 1,988 +47 2.43%
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/quotes/zigman/629063/realtime 2,374 +14 0.58%
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/quotes/zigman/662444/delayed 1,130 +7 0.63%
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/quotes/zigman/2331095/delayed 42.99 +0.43 1.01%
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/quotes/zigman/3173262/delayed 6,192 +213 3.56%
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/quotes/zigman/2380246/delayed 10,316 +318 3.18%
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/quotes/zigman/5986735/delayed 19,059 +485 2.61%
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/quotes/zigman/2622475/delayed 21,949 +110 0.50%
Shanghai
/quotes/zigman/1859015/delayed 3,143 +59 1.93%
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/quotes/zigman/1652085/delayed 26,535 +304 1.16%
Singapore
/quotes/zigman/1709939/delayed 2,992 +46 1.57%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 +0.00 0.17%
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/quotes/zigman/16008150/realtime/sampled 120.95 -0.08 0.06%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 +0.00 0.23%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 0.00 0.03%
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/quotes/zigman/1652083/delayed 95.62 -0.15 0.15%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.20 -0.07 0.08%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 -0.01 0.36%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.04 5.49%
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/quotes/zigman/15866444/realtime 2.06 -0.03 1.54%
U.K. 10yr
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BAC /quotes/zigman/190927/composite 16.44 0.38 2.37%
C /quotes/zigman/5065548/composite 53.44 1.16 2.22%
F /quotes/zigman/264304/composite 13.56 0.35 2.65%
T /quotes/zigman/398198/composite 33.44 0.75 2.29%
BP /quotes/zigman/247026/composite 33.03 1.93 6.21%
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5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Encore
A blog about living in and planning for retirement

Are the Young Better Savers than the Old?

iStockphoto

When it comes to saving and investing, do today’s younger investors resemble the generation that came of age during the Great Depression?  A new survey suggests they may.

Released today by TD Ameritrade Holding Corp., the survey finds evidence that the most diligent savers are members of Generations X and Y (born, respectively, between 1965 and 1976 and 1977 and 1989). Among respondents in those two generations, some 25% and 23%, respectively, say they funded both a 401(k) and an IRA in 2010. In contrast, only 16% of baby boomers made contributions to both types of accounts last year.

Younger employees “are saving more rigorously than their parents and grandparents,” the survey concludes.

Other surveys have also found similarities between today’s young investors and those who came of age during the Depression. According to a recent WSJ article, Boston-based MFS Investment Management published a survey in June that concludes that investors in their 20s “held 30% of their non-401(k) portfolios in cash.” That’s four percentage points higher than the average for all investors,” the article says, adding that the survey also finds that “40% of investors in their 20s agreed with the statement: ‘I will never feel comfortable investing in the stock market.’”

“We had Depression babies,” MFS senior managing director Bill Finnegan says in the article. “Now I think we have recession babies.”

While a tendency to save more is certainly positive, financial advisors say that when young investors turn risk-averse, they potentially set themselves up for years of relatively low returns.

With baby boomers, by contrast, the Ameritrade survey points to inadequate savings rates. For example, although those 50 and over are eligible to make so-called “catch up” contributions to IRAs and 401(k)s, some 68% of those eligible are not taking advantage of the provision. (With catch-up contributions, an individual can stash away an extra $5500 annually in an employer-sponsored retirement account.) Half of those skipping catch-up contributions say they cannot afford to save more; Another 21% profess ignorance of the catch-up rules.

Conducted between July 20 and Aug. 17, the TD Ameritrade survey includes responses from 1509 adults between ages 22 and 81.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 9)

View all Comments »
    • Why save? Savers are penalized anymore. One does better to spend everything and wait for the government bailout, law-change requiring forgiveness, etc…
      What will the saver have gained when the dollar collapses along under the weight of reckless government spending?
      Better spend it while it still has some value.

    • The silly question posed (funding both IRA and 401k) is hardly likely to show a larger percentage of older workers funding both – there are income limits for IRA participation if you have a workplace plan and if you are over 50 with a steady work history you may exceed those. And if you have been laid off and are a consultant or have a small business, as many over 50s, you are in an either-or situation – you can’t do both a 401k and an IRA.

    • The youth today may have the shortest attention spans ever, but there’s no doubt in my mind that the Baby Boomer generation is/was/has been the most selfish generation ever.

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.

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Tokyo Markets Close in:

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Activision, United rally on S&P 500 inclusion
Amgen gets FDA OK for cholesterol treatment
Icahn discloses stake in Freeport McMoRan
Autodesk beats earnings expectations
GameStop tops expectations; shares rise
Bank of New York Mellon tech woes hit prices
Wall Street’s missing a closed-end bargain

The happiest — and most miserable — countries on earth
This is the happiest country on earth


What should China do to fix its economy?
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and a mysterious rally
China fears trigger emerging market outflows

Apple closes in on Fitbit as world's biggest wearables company
Apple closes in on Fitbit in wearables

Apple to host Sept. 9 product event

How momentum investing could go out of style
Momentum investing could be going out of style

These are the best jobs for millennials
These are the best jobs for millennials


Wal-Mart explains decision to stop selling some guns

One billion people logged onto Facebook Monday in new company milestone
1 billion people used Facebook in one day


Poll shows Biden running stronger than Clinton
Republican wants more than the sequester

Donald Trump says he’s OK with raising taxes on himself
Trump: I’m OK with raising taxes on myself

Bezos is clear about what Amazon’s culture is

10 fall beers with absolutely no pumpkin in them
10 fall beers with absolutely no pumpkin in them

Sorry, Uber, but this is the end of the IPO party

Star-studded content up Netflix’s sleeve
'Mr. Robot' season finale postponed

Jim Rogers: Don’t rule out a commodity bull run
Commodities are ripe for a rebound

How the media just can’t spot economic crisis

6 ‘services’ that help hackers get rich

4 things you didn’t know could be hacked
How vulnerable are U.S. markets to hackers?


How to throw a  birthday party for under $100
Only half of Americans with kids have wills

Millennials are clueless about cellphone etiquette
Millennials realize growing up is hard to do

/conga/frontpage.html 353513

Markets »

171.98MDow Volume:
Avg Vol: 111.57M
Unchanged
150
Decliners
1105
Advancers
5358
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,655 +369 2.27%
Nasdaq
/quotes/zigman/12633936/realtime 4,813 +115 2.45%
S&P 500
/quotes/zigman/3870025/realtime 1,988 +47 2.43%
GlobalDow
/quotes/zigman/629063/realtime 2,374 +14 0.58%
Gold
/quotes/zigman/662444/delayed 1,130 +7 0.63%
Oil
/quotes/zigman/2331095/delayed 42.99 +0.43 1.01%
FTSE 100
/quotes/zigman/3173262/delayed 6,192 +213 3.56%
DAX
/quotes/zigman/2380246/delayed 10,316 +318 3.18%
CAC 40
/quotes/zigman/3173214/delayed 4,658 +157 3.49%
FTSE MIB
/quotes/zigman/1482176/delayed 22,201 +727 3.39%
IBEX 35
/quotes/zigman/2759620/delayed 10,290 +306 3.06%
Stoxx 600
/quotes/zigman/2380150/delayed 362 +12 3.46%
Asia Dow
/quotes/zigman/6959860/realtime 2,806 +53 1.94%
Nikkei 225
/quotes/zigman/5986735/delayed 19,064 +489 2.63%
Hang Seng
/quotes/zigman/2622475/delayed 21,949 +110 0.50%
Shanghai
/quotes/zigman/1859015/delayed 3,143 +59 1.93%
Sensex
/quotes/zigman/1652085/delayed 26,536 +305 1.16%
Singapore
/quotes/zigman/1709939/delayed 2,992 +46 1.57%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 +0.00 0.17%
Yen
/quotes/zigman/16008150/realtime/sampled 120.95 -0.08 0.07%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 +0.00 0.23%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 0.00 0.01%
DXY Index
/quotes/zigman/1652083/delayed 95.62 -0.14 0.15%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.18 -0.08 0.10%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 -0.01 0.36%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.04 5.49%
Italy 10yr
/quotes/zigman/15866497/realtime 1.93 -0.05 2.73%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 -0.03 1.54%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.87 +0.02 1.11%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 0.00 0.59%
Crude Oil
/quotes/zigman/2331095/delayed 43 +0 1.01%
Gold
/quotes/zigman/662444/delayed 1,130 +7 0.63%
Corn
/quotes/zigman/7599553/delayed 378 +3 0.73%
DJIA F
/quotes/zigman/38649152/delayed 16,575 -75 0.45%
S&P F
/quotes/zigman/30356461/delayed 1,979 -10 0.51%
Silver
/quotes/zigman/3134148/delayed 14 +0 0.12%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.73 2.54 2.91%
AAPL /quotes/zigman/68270/composite 112.92 3.23 2.94%
GOOG /quotes/zigman/30194416/composite 637.61 8.99 1.43%
BAC /quotes/zigman/190927/composite 16.44 0.38 2.37%
C /quotes/zigman/5065548/composite 53.44 1.16 2.22%
F /quotes/zigman/264304/composite 13.56 0.35 2.65%
T /quotes/zigman/398198/composite 33.44 0.75 2.29%
BP /quotes/zigman/247026/composite 33.03 1.93 6.21%
GE /quotes/zigman/227468/composite 25.01 1.00 4.16%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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