Americans plan more to save for vacations than they do for retirement, according to a COUNTRY Financial study, which also reveals that 51 percent of workers indicate that they don't factor retirement into their long-term financial goals.
And while a Madison.com report suggests that cutting vacations out of one's budget could be a way to save for retirement, particularly in light of a 2016 study by Travelex that finds that the typical American spends roughly $2,000 per year on a vacation, there are definitely other factors to consider.
Another survey, from Project: Time Off, an initiative of the U.S. Travel Association, indicates that people are actually taking more vacation time—an average of 16.8 days per worker, up from 16.2 days from the year before—and that for the second year in a row, vacation use has climbed slightly since taking a nosedive around the year 2000.
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.
