Americans Care More About Vacations Than Retirement
It’s no secret that Americans are woefully ill-equipped for retirement. In a newly released study by COUNTRY Financial, 51% of workers admit that they don’t factor retirement into their long-term financial goals. These findings are consistent with data from the Economic Policy Institute, which finds that almost 50% of Americans have absolutely no money saved for retirement.
Now, it’s one thing to neglect retirement savings out of necessity: Families living paycheck to paycheck often need every cent they bring home to cover the bills. But the fact that more than half of workers aren’t even thinking about retirement speaks to a major mind-set problem that may be more universal than we thought. In fact, COUNTRY’s survey also found that Americans are more concerned with taking vacations than they are with saving adequately for the future. Talk about misplaced priorities.
Full Content: The Motley Fool
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