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There’s been a spike in the number of working millennials with $100,000 saved

Nearly half (47%) of working millennials have $15,000 or more in savings and 16% have $100,000 or more in savings, according to Bank of America’s “Better Money Habits” report, which surveyed 2,000 millennials aged 23 to 37. The bank asked about the total amount of savings, including bank savings/checking accounts, IRA, 401(k) and other retirement or investment accounts. A nine-year bull market has clearly helped.

That’s an encouraging improvement for this struggling generation, which is saddled with record student loan debt and has a hard time affording a first house. In 2015, just one-third of millennials said they had $15,000 or more saved and only 8% had $100,000 or more stashed away for a rainy day.

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