Americans dream of achieving their financial goals…
They want to buy their own home, pay off credit-card debt, build an emergency fund, and one day be able to retire comfortably.
According to a recent survey of 1,000 U.S. adults conducted by LendEDU – an online marketplace for financial services – retirement is one of the top priorities for Americans… But more than a third don’t think they’ll achieve it.
What Americans want most
According to LendEDU’s survey, these are the most important financial goals for Americans (more common answers at the top)…
- Buying a house or apartment
- Paying off credit-card debt
- Building an emergency fund
While one out of five respondents said retirement is their top financial goal, 39% of people believe they will never achieve it. As LendEDU notes, the trend changes depending on age…
When it came to the age of those respondents that lacked confidence in being able to retire, 52% were over the age of 54, 30% were between the ages of 45 and 54, and 15% fell between the ages of 35 to 44.
Doubts over the reality of being able to retire increased among respondents who are approaching retirement age. Millennials surveyed weren’t thinking about retirement as much as Baby Boomers. Instead, younger respondents predominately said buying a house or apartment is their top priority.
Here is your FIRE Plan
Increasing income in more traditional ways, such as through raises and new job opportunities, may have the greatest effect on how much someone saves for early retirement. They suggest staying competitive in the job market or asking for raises, but not necessarily juggling numerous jobs and burning out.
At Get Rich Investments, we strive to create monthly income from monthly dividend stocks, ETFs, CEFs, covered call trades and other investments. It is best to diversify your holding using multiple approaches.
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