The National Endowment for Financial Education today released the results of a survey about what Americans' top financial goals are. They found that almost half of American adults say the financial goal that is most important to them is having enough money for retirement. Forty-seven percent of U.S. adults aged 18 and older say having enough money for retirement is their top financial priority, compared to just 17 percent who feel homeownership is their top financial goal.
Ted Beck, president and CEO of NEFE says, "Homeownership has been a traditional indication of achieving the American Dream. But whether it’s due to the decline in the housing market or because of challenges experienced during the economic downturn, people grasp the importance of planning for the future and seem to be having a shift in their approach—from physical to more financial security-based values."
NEFE found that, in thinking about their own financial situations, 57 percent believe they are achieving the American Dream. But the chase isn’t without its obstacles. A majority of US adults (70 percent) agree that a significant obstacle to achieving the American Dream is their inability to save enough, and 54 percent agree that managing their debt is a significant barrier.
Take the LifeValues Quiz
Understanding your financial values is one part to success in managing your money. NEFE has a LifeValues Quiz to help identify the values that drive their financial decisions. To take the quiz, visit www.smartaboutmoney.org/lifevalues.