Teens Are Already Saving for Retirement

It turns out that current teenagers are actually extremely fiscally responsible; I guess that's what happens when you are a kid during a massive recession and your parents understand that losing everything is always a possibility.

According to a study recently released by a Texas based research firm the Center for Generational Kinetics, 12% of people in Generation Z (all of whom are under 18) have already begun saving for retirement.

Jason Dorsey, the center's president, said in a statement: "Gen Z is primed to become more influential than millennials, and it's happening quickly. Their practical and fiscally conservative behavior is making them part of businesses and our economy despite their young age."

So where are these teenagers getting this money? By in large, they're working for it. 80% of them said they received their money via allowance, jobs, and freelance projects. It looks like the next generation of Americans already has a good head on their shoulders.