Meals Out, Pricey Clothes & New Cars Top Spending Regrets for Americans Trying to Save for Retirement, Schwab 401k Survey Finds
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This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180827005097/en/ Top 5 spending regrets (Schwab 2018 401(k)
According to the survey, respondents are relying heavily on their workplace retirement plans to help them meet their long-term goals, with 62 percent saying they expect their 401(k) to be their largest source of retirement income. Outside of a 401(k), however, participants may be missing out on opportunities to grow their nest eggs. The survey finds that, beyond their 401(k), participants are more likely to use a savings account to prepare for retirement than they are an IRA or other investment vehicle.
"The survey shows that if given the chance, many Americans would have spent differently on short-term pleasures, especially compared to spending that supports their families' long-term happiness and success," said
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