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Dog Bites Man: Americans Are Shortsighted About Their Finances

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Listed:
  • Steven A. Sass
  • Anek Belbase
  • Thomas Cooperrider
  • Jorge D. Ramos-Mercado

Abstract

The brief’s key findings are: *Americans need to save more on their own for retirement, but human nature suggests they will focus more on day-to-day financial needs. *Analysis of a recent survey confirms that a household’s level of financial satisfaction is tied more to short-term – rather than long-term – concerns. *Even households that are in reasonable shape in the short term do not seem to focus more on distant concerns like retirement saving. *And households that are more financially literate appear only modestly more attuned to long-term financial issues.

Suggested Citation

  • Steven A. Sass & Anek Belbase & Thomas Cooperrider & Jorge D. Ramos-Mercado, 2015. "Dog Bites Man: Americans Are Shortsighted About Their Finances," Issues in Brief ib2015-3, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2015-3
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    File URL: http://crr.bc.edu/briefs/dog-bites-man-americans-are-shortsighted-about-their-finances/
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