More adult Americans give higher priority to saving for retirement than to saving for a child’s college education, new research reveals.
Country Financial, Bloomington, Ill., published this finding in a summary of results from a national telephone and online survey of 3,000 Americans. The data was compiled by Rasmussen Reports LLC, an independent research firm.
When asked to prioritize savings objectives, nearly half (45%) of the respondents polled by Rasmussen gave greater priority to saving for retirement than to saving for a child’s college education (38%). The result, the report indicates, can be attributed in part to a steady decline in the number of Americans who value a college education.
Just 57% of Americans in 2012 believe that a college education is still a good investment, the report finds. In 2011 and 2010, 58% and 64% of Americans, respectively, said that a college education is a still a good investment. The survey reveals still higher percentages in 2009 (79%) and 2008 (81%).