What Americans Put Before Financial Security is Just Depressing

401k, savings, retirement, behavior

401k financial security isn't important - until it is.

Americans really love their smartphones, just one of the items they put before financial security.

They might also be willing to risk their financial security to keep some of their other “most-valued items.”

In fact, nearly half of Americans surveyed were willing to give up their security if it meant keeping either their smartphones, cars or vacations, according to Voya Financial.

“We all value the things that make our lives easier, more productive and give us joy—like spending vacation time with family and friends,” said Carolyn Johnson, CEO of Voya’s Annuities and Individual Life business, said in a statement. “And while the goal of achieving financial security may feel daunting or perhaps even unreachable, Americans recognize its importance. The good news is—with some planning and guidance from the right resource—protecting our families, our income and our financial future is something we can all achieve.”

Voya’s survey examined which of the following items Americans would be least willing to give up: their financial security, smartphones, cars or vacations.

Key findings include:

Every generation prioritizes financial security differently

Surprisingly, Voya’s survey found that baby boomers are more attached to their smartphones than millennials—and millennials are the least willing of all generations to give up their security. In addition, men and women were fairly well matched, with a few exceptions.

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