Record numbers of young, unmarried couples are moving in together, with a large majority saying they're doing it for money

3/28/2023

Record numbers of young, unmarried couples are moving in together, with a large majority saying they're doing it for money, per Bloomberg.

Couples are moving In together to save money, but 42% regret it, per Bloomberg.

About two-thirds of people who have moved in with their romantic partner say finances and logistics contributed to their decision, and the share is even higher for younger couples.

About one quarter of those that did move in together say they were able to save more than $1,000 per month.

Recently, a report by TransAmerica Center for Retirement studies dove into the average savings of different age groups, namely Gen Z, Gen Y (millennials), Gen X, and Baby Boomers. Another article by USA Today shares the different age ranges of those groups.

Here are the age groups and the average amount they have in their retirement savings.

Gen Z - people born from 1997 to 2012 - have a median of $33,000 in retirement savings.
Gen Y (millennials) - people born from 1981 to 1996 - have a median of $50,000 in retirement savings.
Gen X - people born from 1965 to 1980 - have a median of $87,000 in retirement savings.
Baby Boomers - people born from 1946 to 1964 have a median of $162,000 in retirement savings.

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