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New study says citizens in a dilemma
By Surajit Sen Sharma
 
A new survey by Country Insurance & Financial Services shows that citizens are split over the goals of their savings. Out of 3000 adults surveyed, 43% say that saving for their children's college educations is more important than anything else, while another 43% considers saving for their retirement more important. Moms ruled overwhelmingly in favor of their children, with 49% of moms saying that saving for the education of their children is more important than other considerations, compared to 39% of dads who agreed on the issue.

The survey also found that in spite of rising costs in college education:
  • Most Americans (78%) view college education as good investment.
  • 62% of parents plan to shoulder the bulk of college education costs for their children.
According to the survey, 56% of young adults ages 18-29 are more concerned with saving for their children's college education, while only 33% of people ages 30-64 years show similar inclinations.

The survey also showed that:
  • 40% of adults are unsure about the what financial decisions to make in saving for college.
  • 25% of Americans surveyed think that it costs less than $50,000 to send children to college.
The funding survey was based on a national telephone survey and Rasmussen Reports, LLC, an independent research firm compiled the results. The results of the survey can be downloaded at www.countryfinancialsecurityindex.com/media/200707/CountryCrosstabsTrendJuly.pdf

On the Net:

Retirement or College? America has Split Priorities
digital50.com/news/items/PR/2007/07/17/AQTU033/
retirement-or-college-america-has-split-priorities.html

Retirement or College? America has Split Priorities
www.countryfinancialsecurityindex.com/trendrelease.php?tid=3


 


Article Title : New study says citizens in a dilemma
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