Which Is More Important—Love or Money?

401k, retirement, Merrill Edge

Romance or finance?

Americans are prioritizing Benjamins over butterflies.

Searching for a significant other today is more about finding someone who provides financial security than finding someone who gives you the warm and fuzzies.

According to a new report from Merrill Edge, 56 percent of people say they want a partner whose finances are in order more than “head over heels” love.

It’s a sentiment held by both genders and almost all generations. (Gen Z being the exception.)

If you’re looking for “the one,” consider adding “career-focused,” “frugal” and “saver” to your online dating profile. Apparently Americans prefer those traits over someone who’s socially conscious, philanthropic or a spender.

But despite being attracted to these qualities, most people don’t want to talk about their own money situation and don’t have much of a financial plan in place.

The majority admit they rarely talk about debt, salary, investments and spending habits with their partners, and have no monetary goal in mind for major life milestones.

Over half have no idea how much to save for retirement. And among those who do, many are aiming low. Around eight in 10 say they’re shooting for a number less than $1 million.

Around two-thirds are unsure how much they need to stash away before getting married, and more than half don’t know how much they’ll need to put a down payment on a house or send kids to college.

The good news is Americans want to save and invest. Respondents say they’re willing to set aside $18,000 a year—a higher amount than they intend to spend on rent or mortgage payments, education expenses or travel.

And they’re looking to technology and artificial intelligence to help them sort it all out. Around half say they are already comfortable using AI for financial guidance and to help them manage their money and make investments. Three-quarters believe they’ll primarily receive investment advice via digital channels in the next five years.

“Americans are saving money at record rates, and yet we’re seeing people of all ages look to their current and prospective partners to secure their financial futures. Economic uncertainty and a lack of financial planning seem to be creating this burgeoning trend of dependence on others for financial security,” said Aron Levine, head of Consumer Banking and Merrill Edge.

“Perhaps this rapid adoption and reliance on technology will inspire Americans to take action and plan for their financial futures.”

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