A majority of Americans, 63 percent, do not believe they are saving enough for retirement, according to an Edward Jones survey released last week. In addition, the April poll of 565 individuals found, this outlook varies by region.
In the Midwest, only 54 percent of those surveyed felt they were not saving enough. However, this number spiked to 68 percent in the West, 64 percent in the South and 63 percent in the Northeast, perhaps reflecting higher expenses in certain regions and real estate price discrepancies.
When asked why they did not feel they were saving enough, 32 percent said it was because they had too many current expenses, 10 percent referred to retirement as not being attainable, 10 percent believed it is too early, 5 percent said retirement was not desirable and 4 percent were too busy.
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Janet Levaux
Editor-in-Chief Janet Levaux has covered the financial markets since 1991, with a focus on financial advisors since 2005. After graduating from Yale and the Johns Hopkins School of Advanced International Studies (SAIS), where she studied global economics, Janet worked as a freelance financial and business writer in Japan, and then as a reporter and editor for Investor's Business Daily and the Bay Area News Group in California. She earned an MBA in 2007 and since then has helped lead key ThinkAdvisor projects like its Neal-Award winning reporting on Ken Fisher, Luminaries awards program and Women in Wealth newsletter.
