Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Retirement Planning > Saving for Retirement

Principal: Retirement Saving Holds Steady

Your article was successfully shared with the contacts you provided.

Many U.S. workers say they will cut holiday spending and overall monthly discretionary spending, but most say they will try to keep up retirement plan contributions.

Researchers from Principal Financial Group Inc., Des Moines, Iowa, has published those findings in a summary of results from an October survey of 1,179 U.S. adults ages 18 and older who work at U.S. businesses with 10 to 1,000 employees.

The percentage of workers who said they fear their employer could go out of business in the coming year has increased to 10%, up from 6% a year ago.

About 66% of workers said they had cut their overall spending during the past 2 months, and 53% said they will spend less on holiday gifts.

About 25% of the workers said they would give less to charity.

But 90% of the participants who are participating in retirement plans said they had not cut plan contributions or drawn on plan assets, and 11% said they had increased the amount they are saving.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.