Having Enough Money for Retirement is a Top Financial Goal
August 22, 2011 (PLANSPONSOR.com) – A new survey from the National Endowment for Financial Education (NEFE) finds almost half of American adults say the financial goal that is most important to them is having enough money for retirement.
According to the survey results, 47% of U.S. adults ages 18 and older say having enough money for retirement is their top financial priority, compared to just 17% who feel homeownership is their top financial goal.
In thinking about their own financial situations, 57% say they are achieving the American Dream. A majority of adults (70%) agree that a significant obstacle to achieving the American Dream is their inability to save enough, and 54% agree that managing their debt is a significant barrier.
“Homeownership has been a traditional indication of achieving the American Dream,” said Ted Beck, president and CEO of NEFE, in a press release. “But whether it’s due to the decline in the housing market or because of challenges experienced during the economic downturn, people grasp the importance of planning for the future and seem to be having a shift in their approach — from physical to more financial security-based values.”
The survey was conducted among 2,257 U.S. adults ages 18 and older June 28-30, 2011.