Ameriprise Financial has released a report that quantifies what this blog suggested in our initial post - there is a disconnect between the desire to save more for retirement and the reality of doing so. Simply put, most people do have the desire to save for the long-term, but meeting short-term needs tends to take priority. The Ameriprise study focused on three demographic groups - Baby Boomers, Gen X, and Millenials. Here are some of the more interesting findings:
While the study's conclusion that today's trade-offs will boost future financial goals is true enough, I think the one additional focus that is needed is helping people better navigate the current challenges, especially when they do get in the way.
Blog Author - Ken Felsher
With over 25 years of writing, editing, and research experience. I enjoy sharing with my readers my love of working with content on a variety of subjects.
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