New article: “Are Americans of All Ages and Income Levels Shortsighted About Their Finances?”

The Center for Retirement Research at Boston College has released a new Issue in Brief:

“Are Americans of All Ages and Income Levels Shortsighted
About Their Finances?”

by Steven A. Sass and Jorge D. Ramos-Mercado

The brief’s key findings are:

• A recent CRR analysis of a FINRA survey found that financial satisfaction depends much more on meeting day-to-day, rather than distant, needs.
• This study explores whether households of all ages and income levels are also shortsighted.
• The results confirm that distant needs, like retirement saving, consistently take a back-seat to more immediate concerns.
• The results underscore the importance of making it easy and automatic for Americans to save for distant goals that may otherwise receive little attention.

This brief is available here.