When asked what best defines financial success, Americans chose being able to afford a comfortable retirement over homeownership as the ultimate achievement, in a new AICPA survey. The top answers in the survey are as follows:
28% – Having a comfortable retirement
23% – Providing debt free education for their children
11% – Homeownership
11% – Being better off than their parents
In recent years and since the great recession, Americans have taken steps to improve their financial well being by setting a budget and paying off debt with an eye towards saving for retirement as much as possible. Being debt free (from mortgage, cars and credit cards) at the age of 50 is a goal we have always preached as it is something that is totally achievable.
The survey, conducted by Harris Poll, also found that one-in-five Americans (or 21%) reported having already achieved financial success.
Additional results from the survey can be found here: http://epcpa.us/1z5Epph