Affording retirement is the most important financial goal for Americans
July 28, 2011
The American Dream used to be all about owning a home, but now things have changed. Now, the most important financial goal for Americans is having enough money to retire, according to a new survey by TheStreet, a digital financial media company. Home ownership was only seen as a leading goal by 17 percent of survey respondents.
Nearly half of all surveyed adults claim that having enough money to retire is the most important lifelong goal, and 70 percent say that their inability to save money is the biggest obstacle that stands in the way of achieving their dream.
Last year, Business Insider reported that 43 percent of Americans had less than $10,000 saved for retirement, and 31 percent have nothing set aside at all. The news source also reported that more than half of workers have little confidence that they will be able to pay for medical expenses in retirement. One way for retirees to save money can be to invest in a personal emergency response system that can get medical help quickly if an older adult is injured, which could reduce the cost of hospital bills.