More Americans Are Saving for Vacation Than for Retirement
It's no secret that Americans are woefully behind on retirement savings. The typical household aged 44 to 49 has just $81,347 socked away, while households between 50 and 55 have an average $124,831 in savings.
Near-retirees aren't doing much better. The average balance among 56- to 61-year-olds is just $163,577. Furthermore, almost half of American families have no retirement savings at all.
Given these rather dire statistics, you'd think more of us would be focused on building our nest eggs to make up for lost time. But sadly, that's not the case. In a recent NerdWallet study, Americans were asked to rank their upcoming financial goals, and it turns out we're more intent on saving for vacations than we are for retirement.
Source: Fool.com
