Most employees said that they are not saving enough money for retirement, according to a new survey by Harris Interactive on behalf of Principal Financial Group Inc., Des Moines, Iowa.
Of the 1,133 employees surveyed, 51% said that not saving enough money is hindering their financial success, while contributing factors were credit card and other consumer debt, cited by 35%, and not starting retirement savings early in their career, mentioned by 33%.
The survey also found that 22% of employees indicated that impulse purchases have impeded their financial success, while 20% blamed living beyond one’s means.
Among 501 retirees surveyed, 31% said that not starting retirement savings early in their careers has hindered their ability to achieve retirement goals, while 38% said not saving enough money impeded their personal financial success.