While nearly two-thirds Americans report having enough money saved to pay for emergency expenses, fewer than half of non-retirees are saving an amount sufficient to have a desirable standard of living in retirement, according to a new report.
American Savings Education Council, an organization managed by the Employee Benefit Research Institute, Washington, D.C., and America Saves, managed by the Consumer Federation of America, Washington, D.C., disclose this finding in a sixth annual national survey assessing household savings. The joint report was released as part of the America Saves Week, an annual event sponsored by government, business and non-profit organizations to promote good savings behavior.
Nearly two-thirds (65 percent) of the survey respondents say they have sufficient emergency savings to cover unexpected expenses. But only 49 percent of the non-retired say they are "saving enough in retirement" to achieve a desirable standard of living.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
