Number of Americans saving more toward retirement climbs

Number of Americans saving more toward retirement climbsNumber of Americans saving more toward retirement climbsPrior Bankrate research found that 8% of Americans never plan to retire and 61% dont know how much money theyll need, more recent data from the site shows that 6% of Americans didnt save for retirement last year or this year.SSRS surveyed 2,011 Americans for Bankrate.How much money people are saving for their Golden YearsSaving more 28%Saving less 13%Saving about the same amount 48%Did not contribute this year or last year 6%Dont know/refused 6%You might not think that the 28% of people who were found to be saving more in 2018 is very significant since a staggering 48% of people say theyre totenstill saving as much money for retirement this year as they were last year. But Bankrate highlighted the point that 2018 marks the highest percentage of people increasing their retirement savings (28%) since the question was first posed for their research in 2011.The company elaborat ed, further notingthat this is the fourth consecutive year that more Americans have boosted retirement savings, up from 23 percent in 2017 21 percent in 2016 19 percent in 2015 and 18 percent in 2013. (The question wasnt surveyed in 2014.).Why people are putting less cash away for retirementThis is why people say that they havent started putting away more cash for their Golden Years in 2018 compared to in 2017.Income hasnt changed or has decreased 26%Comfortable with retirement savings 21%Focusing on another financial priority 16%Rising household expenses 12%Havent gotten around to it 11%Dont know/refused 10%Unexpected financial emergency 5%