Economic turmoil over the past eight years has reshaped the views of many Americans as to how they will pay for their retirement. Those younger than 40 are turning to an old standby: the simple savings account.
In four Gallup polls from April 2013 through April 2016, an average of 37 percent of those aged 18 to 39 listed savings accounts as a major source of retirement money. That's up 11 percentage points from the 26 percent who named it in the 2002-2007 polls.
Retirement savings accounts such as IRAs and 401(k)s are still the source mentioned by this cohort most often, but the percentage naming these types of retirement accounts has dropped from 57 percent to 51 percent. Savings accounts are now a clear second among this group.