Grusho Anna /

Some folks know how to save a buck or two. But when you take it to the next level, you reach “super saver” status.

Super savers are those who participate in a 401(k) or similar retirement plan and earmark more than 10% of their salary to such an account, according to the Transamerica Center for Retirement Studies.

Recently, the center surveyed 5,493 workers as part of its report “Emerging From the COVID-19 Pandemic: Four Generations Prepare for Retirement.”

As part of that report, the organization identified the percentage of super savers in four generations — Generation Z, millennials, Generation X and baby boomers.

Somewhat surprisingly, the center found there are a lot of super savers in all of those age cohorts. Following is a breakdown of how many of these overachieving savers can be found in each generation.

Generation Z

man throwing money cash
Dean Drobot /

How Transamerica defined this generation: People born from 1997 to 2012

Respondents in this generation who are “super savers”: 61%

The stereotype is that Generation Z is made up of slackers. If you believe that, this survey will turn your world upside down.

Members of Generation Z have the most super savers of any generation, with more than 6 in 10 qualifying for the title.

So, instead of passing on your money wisdom to people in this age group, perhaps you should find out what they can teach you.


Woman who is a cheapskate
Franz Pfluegl /

How Transamerica defined this generation: People born from 1981 to 1996

Respondents in this generation who are “super savers”: 56%

Millennials aren’t quite up to the level of saving as the generation immediately below them, but they aren’t far behind.

More than half of millennials are putting a large chunk of their income into a retirement account.

Generation X

Excited homeowners on a laptop
Inside Creative House /

How Transamerica defined this generation: People born from 1965 to 1980

Respondents in this generation who are “super savers”: 45%

The percentage of super savers takes a sharp dip in Generation X, with less than half of workers in this age group earning the honor.

Are you struggling to reach super-saver status? Enroll in the Money Talks News course Money Made Simple.

MTN founder Stacy Johnson offers 14 weeks of lessons on money basics in this course. You will learn how to improve your financial life in all the following areas:

  • Budgeting
  • Banking
  • Credit
  • Taxes
  • Insurance
  • Investing
  • Real estate
  • Estate planning

After finishing these lessons, you will be ready to begin building wealth more efficiently. As Stacy writes:

“Whatever your situation, understanding and learning to control your money is going to improve your life. If you’re rich, you want to stay that way. If you’re not, you want to get that way.”

Baby boomers

fizkes /

How Transamerica defined this generation: People born from 1946 to 1964

Respondents in this generation who are “super savers”: 47%

As with Generation X, there are fewer super savers in the baby boomer generation than there are among younger generations.

However, boomers get something of a pass here: Many of them now are in retirement — and more are entering their golden years every day — which means they no longer are funneling job-related income into a retirement plan.

Besides, they are still doing better than Generation X.

Chris Kissell

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