1 in 6 Millennials Have at Least Six Figures Saved

Millennials might not be in the dire financial straits that many assume. A new Bank of America survey shared with USA Today finds that a decent number (16%) already have a solid nest egg of six figures, and most are following a savings plan. Five key findings from the survey follow:

• 1 in 6 (16%) have at least $100,000 saved, double the percentage from 2015
• About half (47%) have at least $15,000, up from 33% in 2015
• Nearly 2 in 3 (63%) say they are saving, about the same as Generation X (64%) and less than Boomers (75%)
• More than 1 in 4 (26%) work in the gig economy with short-term work, meaning they are largely out of luck in terms of 401ks and such
• 60% feel "financially secure," though the top stressor (35%) is not being able to save enough

Click for the full story and more findings. (More millennials stories.)