Dog Bites Man: Americans Are Shortsighted About Their Finances

Steven Sass (steven.sass1@gmail.com), Anek Belbase, Thomas Cooperride and Jorge D. Ramos-Mercado

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are: *Americans need to save more on their own for retirement, but human nature suggests they will focus more on day-to-day financial needs. *Analysis of a recent survey confirms that a household’s level of financial satisfaction is tied more to short-term – rather than long-term – concerns. *Even households that are in reasonable shape in the short term do not seem to focus more on distant concerns like retirement saving. *And households that are more financially literate appear only modestly more attuned to long-term financial issues.

Pages: 9 pages
Date: 2015-02
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