With the never-ending studies that say Americans
aren't saving enough for retirement, it can sometimes feel like the
nation is comprised of a bunch of short-sighted spendthrifts.
A new survey, however, paints an entirely different
picture of American workers who are trying to save, but are in need of
better pay and economic conditions.
The survey by Allstate found that 84% of people from
households with between $35,000 and $55,000 in annual income said they would save
more if they got a salary increase. Of those with an income of $150,000
or more, 78% gave the same answer.
And 60% of all 1,601 surveyed said they need a better economy to save more.
"It is understandable that many people's first
reaction is that they cannot save more unless they make more," says
Mathew Greenwald, president of Mathew Greenwald & Associates, which
carried out the survey for Allstate.
In another indication that Americans are trying to
save for retirement, 87% of respondents said they are disciplined, 78%
said they are "good savers" and 71% said they are educated about
investments.
A large majority, 82%, said they live on a budget.
Salary increases were cited as the top trigger that
would cause them to save more, followed by getting closer to retirement
and having children finish college.
The survey took responses from 1,601 randomly
selected people born between 1946 and 1978 and who had household
incomes of $35,000 or more.