- Category: Widget
- Published: Friday, 05 June 2015 16:24
- Written by Isaac
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Survey: Only Half of Americans Set Financial Goals
Are you saving enough money to meet your goals? Victory State Bank, Staten Island only community-based commercial bank, posits that many are failing in this effort.
The bank points to a recent survey that found many Americans aren't focused on setting financial goals or saving money.
The survey, conducted by Harris Poll on behalf of Ally Financial, revealed that only half of Americans set financial goals as part of their saving strategy and 33 percent are not saving money for the future at all.
According to the poll, only 22 percent of Americans feel they are saving the right amount for their future, and 45 percent say they would like to be saving more.
And while 83 percent of Americans have financial goals they are planning toward, only 51 percent say they have set and achieved a long-term financial goal.
Notably, their greatest challenge when planning for their financial future is sticking with a plan and staying motivated to achieve their goals (29 percent), the survey found.
The top goals Americans are saving for include retirement (42 percent), an emergency fund (37 percent) and leisure savings, such as a vacation or personal purchase (37 percent). Leisure savings was the top goal for America's youngest and oldest savers – the millennial group and those over 65. For generation X and the baby boomers, retirement was the top goal.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.