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Published: Feb 18, 2022 4 min read

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TikTok is so 2021. Gen Z's new hobby is saving for retirement.

New data from Fidelity Investments indicates that Gen Z (ages 10 to 25) is focused on building wealth for the long term — even decades from now. The number of individual retirement accounts among Gen Z investors grew 146% to almost 275,000 at Fidelity Investments in the last year, the financial services firm reported Thursday. Meanwhile, 53% of Gen Z workers increased the contribution rate to their 401(k)s in 2021, according to Fidelity, one of the largest providers of retirement accounts.