The oldest Gen Z savers are 24, and age is where their advantage lies. Take a look at the table below. There are two scenarios: a 24-year-old with a 401(k) balance of $23,900 and a 55-year-old with $267,000 on hand. As you can see, the younger saver is richer at retirement, despite the lower starting balance and monthly contribution.
There are two assumptions baked into the numbers above: