New Principal® Survey Finds Middle-Income Households Are Exceeding Their Retirement Savings Expectations
A new Principal Financial Group survey reveals strong retirement savings habits among middle-income households ($50,000-$99,999). 77% of these households are saving for retirement at an average rate of 7.8% of their income before employer contributions, with 40% expecting better retirement outcomes than initially envisioned.
The survey found that 93% of respondents prioritize retirement savings despite financial challenges. Family members (65%) and friends/peers (52%) were primary influences in starting retirement savings. However, employers, financial professionals, and retirement plan providers proved more helpful for ongoing savings guidance.
Notable challenges include 30% of middle-income households making early withdrawals, primarily for urgent repairs (38%), job loss (30%), medical debt (18%), and family-related expenses (18%).
Un nuovo sondaggio del Principal Financial Group rivela forti abitudini di risparmio per la pensione tra le famiglie a medio reddito (da $50.000 a $99.999). Il 77% di queste famiglie sta risparmiando per la pensione a un tasso medio del 7,8% del loro reddito prima dei contributi del datore di lavoro, con un 40% che si aspetta risultati migliori per la pensione rispetto a quanto inizialmente previsto.
Il sondaggio ha rilevato che il 93% dei rispondenti dà priorità ai risparmi per la pensione nonostante le difficoltà finanziarie. I membri della famiglia (65%) e gli amici/pari (52%) sono stati le principali influenze nell'iniziare a risparmiare per la pensione. Tuttavia, i datori di lavoro, i professionisti finanziari e i fornitori di piani pensionistici si sono dimostrati più utili per la guida continuativa nei risparmi.
Le sfide notevoli includono il 30% delle famiglie a medio reddito che effettuano prelievi anticipati, principalmente per riparazioni urgenti (38%), perdita del lavoro (30%), debito medico (18%) e spese familiari (18%).
Una nueva
La encuesta encontró que el 93% de los encuestados prioriza el ahorro para la jubilación a pesar de los desafíos financieros. Los miembros de la familia (65%) y amigos/pares (52%) fueron las principales influencias para comenzar a ahorrar para la jubilación. Sin embargo, los empleadores, los profesionales financieros y los proveedores de planes de jubilación resultaron más útiles para la orientación sobre el ahorro continuo.
Los desafíos notables incluyen el 30% de los hogares de ingresos medios que realizan retiros anticipados, principalmente para reparaciones urgentes (38%), pérdida del empleo (30%), deudas médicas (18%) y gastos familiares (18%).
새로운 프린시펄 파이낸셜 그룹 설문 조사에 따르면, 중간 소득 가구($50,000-$99,999) 사이에서 강한 퇴직 저축 습관이 드러났습니다. 이들 가구의 77%가 고용주 기여 전의 평균 소득의 7.8%를 퇴직을 위해 저축하고 있으며, 40%는 초기 예상보다 더 나은 퇴직 결과를 기대하고 있습니다.
설문 조사에 따르면 응답자의 93%가 재정적 어려움에도 불구하고 퇴직 저축을 우선시합니다. 가족 구성원(65%)과 친구/동료(52%)가 퇴직 저축을 시작하는 데 주요한 영향을 미쳤습니다. 그러나 고용주, 재정 전문가 및 퇴직 연금 제공자는 지속적인 저축 지침에 더 도움이 되었습니다.
주목할 만한 도전 과제는 중간 소득 가구의 30%가 조기 인출을 하는데, 이는 주로 긴급 수리(38%), 직업 상실(30%), 의료 부채(18%) 및 가족 관련 비용(18%) 때문입니다.
Une nouvelle enquête du Principal Financial Group révèle de solides habitudes d'épargne-retraite parmi les ménages à revenu moyen (50 000 $ à 99 999 $). 77% de ces ménages épargnent pour la retraite à un taux moyen de 7,8% de leur revenu avant les cotisations de l'employeur, avec 40% s'attendant à de meilleurs résultats de retraite que prévu initialement.
L'enquête a révélé que 93% des répondants priorisent l'épargne-retraite malgré les défis financiers. Les membres de la famille (65%) et les amis/ pairs (52%) ont été les principales influences pour commencer à épargner pour la retraite. Cependant, les employeurs, les professionnels de la finance et les fournisseurs de régimes de retraite se sont révélés plus utiles pour un soutien continu en matière d'épargne.
Les défis notables incluent le fait que 30% des ménages à revenu moyen effectuent des retraits anticipés, principalement pour des réparations urgentes (38%), la perte d'emploi (30%), les dettes médicales (18%) et les dépenses liées à la famille (18%).
Eine neue Umfrage der Principal Financial Group zeigt starke Altersvorsorgegewohnheiten unter Haushalten mit mittlerem Einkommen (50.000 bis 99.999 USD). 77% dieser Haushalte sparen im Durchschnitt 7,8% ihres Einkommens vor den Arbeitgeberbeiträgen für die Rente, wobei 40% bessere Altersvorsorgeergebnisse erwarten als ursprünglich vorgesehen.
Die Umfrage ergab, dass 93% der Befragten trotz finanzieller Herausforderungen der Altersvorsorge Priorität einräumen. Familienmitglieder (65%) und Freunde/Gleichaltrige (52%) waren die Hauptursachen für den Beginn des Altersvorsorgesparens. Arbeitgeber, Finanzprofis und Anbieter von Rentenplänen erwiesen sich jedoch als hilfreicher für eine kontinuierliche Sparberatung.
Zu den bemerkenswerten Herausforderungen gehört, dass 30% der Haushalte mit mittlerem Einkommen frühzeitig Abhebungen vornehmen, hauptsächlich für dringende Reparaturen (38%), Arbeitsplatzverlust (30%), medizinische Schulden (18%) und familienbezogene Ausgaben (18%).
- None.
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According to the survey, Principal® Real Life Retirement Journeys,
“Americans should be encouraged to know the priority they have placed on saving for retirement is meaningful and beneficial to their futures,” said Teresa Hassara, senior vice president of workplace savings and retirement solutions at Principal. “Many are within range of a recommended minimum savings rate of
In total,
Most Influential vs. Most Helpful to Start Saving for Retirement |
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Most Influential |
Most Helpful |
Family & Friends |
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Employer |
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Financial Professional |
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Retirement Plan Service Provider |
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Principal reviewed the survey findings in tandem with personal finance expert Jean Chatzky2, CEO and founder of HerMoney, who shared, “As vital as our family and friends are to helping shape our values, beliefs, and opinions, there are often limitations on both what they know and what they can do to support our financial goals. Individuals who use resources offered through their employer’s plan – in some cases at no additional cost – or who get help from a financial professional typically express higher levels of confidence in their ability to make decisions and reach their goals. It’s important for people to understand their access to help does not depend on their age or how much money they have.”
While the survey results illustrate positive momentum for retirement savings, it also found nearly one-third (
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Address large purchases that were not optional such as urgent home or car repairs (
38% ) -
Cover lost income due to the loss of their job or their spouse’s/partner’s job (
30% ) -
Repay medical debt (
18% ) -
Pay for expenses related to an adult child or parent (
18% )
When asked how taking a withdrawal impacted their financial progress,
More information about the Principal® Real Life Retirement Journeys Survey is available at principal.com.
1 Based on analysis conducted by the Principal Financial Group®, October 2024. The estimate assumes a 40-year span of accumulating savings and the following facts: retirement at age 65;
2 Jean Chatzky is a compensated financial commentator, is not affiliated with any company of the Principal Financial Group. The views she expresses are not necessarily those of the Principal Financial Group or any member company.
About the Principal® Real Life Retirement Journeys Survey
The Principal® Real Life Retirement Journeys Survey had responses from 1,000 employees between the ages of 18 and 64, with pre-tax household incomes of
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with nearly 19,000 employees3 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we’re helping approximately 68 million customers3 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the 2024 World’s Most Ethical Companies® by Ethisphere4, a member of the Bloomberg Gender Equality Index, and a “Best Place to Work in Money Management5.” Learn more about Principal and our commitment to building a better future at principal.com.
3 As of September 30, 2024
4 Ethisphere, 2024
5 Pensions & Investments, 2023
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Principal Global Investors leads global asset management. Referenced companies are members of the Principal Financial Group®,
© 2024 Principal Financial Services, Inc. Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in
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Phillip Nicolino, 515-362-0239, nicolino.phillip@principal.com
Source: Principal Financial Group
FAQ
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