Despite the recession, the mass affluent are making saving for retirement a top financial priority. From cutting back on luxuries to funding less of their children's education, mass affluent are making significant trade-offs to strive for a more secure financial future. Read below for more insights and information about mass affluent behavior, plans and perspectives on retirement, investing, cost of college, financial resources and more.
Not just saving aggressively for retirement, young investors (ages 18-34) are also starting to save earlier than other generations — including Baby Boomers.
Saving for retirement is a top priority for the mass affluent, and they're continuing to make trade-offs to strive to secure the life they want to live during retirement.
While many mass affluent consider college to be worth the return on investment, parents are not compromising their retirement savings to pay for their child's college education.
More insights from the Merrill Edge Report Spring 2013
Get a closer look at additional insights gleaned from the Merrill Edge Report surrounding financial concerns, perspectives and behavior of mass affluent Americans.
Ketchum Global Research & Analytics and Braun Research conducted the Bank of America Merrill Edge Report survey by phone between March 1, 2013 and March 18, 2013 on behalf of Bank of America. Braun contacted a nationally representative sample of 1,013 Americans in the United States with investable assets between $50,000 and $249,999, and oversampled 300 mass affluent in Dallas, Los Angeles, Orange County, CA, San Francisco, Northern New Jersey and South Florida. The margin of error is ± 3.1 percent for the national sample and ± 5.7 percent for the oversample markets, with both reported at a 95 percent confidence level.