Even as a retirement savings crisis looms, some investors are working to rack up large balances.
Yet others are working to accumulate balances that far exceed their peers.is looming for people that have 401 plans and other retirement balances woefully short of what they will need to live on.
Savers who have $250,000 or more are more likely to be older, according to Transamerica's research, with 44% of baby boomers having reached that savings level, followed by 33% of Gen Xers, 24% of millennials, and 16% of Gen Zers. "If they have a financial mentor, a family member, or a friend who has taught them about the importance of saving, that also has a huge impact on their focus on saving," Collinson said.
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