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What millennials are doing right—and wrong—about retirement A Wells Fargo study found that although young workers may be over-confident about their investing skills, they are good at handling their 401(k) plans. About 28% of them contribute at least 10% of their salaries. The number of workers who have incomes of more than$100,000 and who save at least 10% of their earnings increased 15.3%, and while these workers are mostly baby boomers, only 7.7% of 401(k) participants aged 50 and above take advantage of their plans' catch-up contributions, the study found. "We're seeing the first generation that had the full, out-of-the-gate use of tools like auto-enrollment and target-date funds, and it's really getting people into plans early and getting them diversified," says an executive with Wells Fargo. --Bloomberg
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