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New Poll Shows Catch-Up Retirement Contribution is More Desired Holiday Gift than Electronics, Jewelry

December 08, 2009

Foster City, CA (PRWEB) November 30, 2009 -- In a new poll conducted jointly by two leading financial education Web sites, MoneyRates.com and GetRichSlowly.org, nearly half of the respondents would rather receive a contribution to retirement savings than other perennially popular gifts. In today's economy, consumers may be saying bye-bye to bling: What many people really want for the holidays is their retirement savings back.

Visitors to MoneyRates.com and GetRichSlowly.org were asked, "Secretly, what would you really like most as a holiday gift?" The financially responsible choice--a contribution to retirement savings--out-polled flashier gifts, beating the next highest alternatives by more than a 2-to-1 margin. Here's how the gift ideas stacked up in the poll:

  • A contribution to get your retirement savings back on track: 46 percent
  • iPhone or iTouch: 22 percent
  • HD television: 22 percent
  • Jewelry: 11 percent

"It's a sign of the times," said MoneyRates.com spokesman Richard Barrington. "People have loaded up on consumer goodies for years. Now the recent recession and the weak job market have reminded them that there are other things they need--like being able to afford retirement."

"The past year's turbulent economy has more people thinking about their retirement savings, and that's a good thing," agreed GetRichSlowly.org founder J.D. Roth. "A small investment now can turn into a big gift down the road."

Gift-givers may be getting the message. A full 44 percent of those who responded to a recent Consumer Reports survey said that they planned to give money as a gift this holiday.

The MoneyRates.com/GetRichSlowly.org poll represents a relatively informed audience, as both Web sites are dedicated to financial education. "Coming from our audience, this poll demonstrates that people in the know realize that retirement savings is now the priority," said Barrington. "Enough to make it number one on this hypothetical Santa list."

Further analysis on the joint poll can be found at http://www.money-rates.com/news/Dear_Santa_How_About_a_Little_Something_for_My_Retirement_Fund.htm.

MoneyRates.com has been a leading source of information on bank rates, personal finance, savings accounts and investing since 1999. The site provides the highest rates on certificates of deposits, money market accounts and high-yield savings accounts.

GetRichSlowly.org--recently named most inspiring money blog by Money magazine--is devoted to sensible personal finance. Since 2006, founder J.D. Roth has been sharing with thousands of daily readers what he has learned about debt elimination, saving money and practical investing.

Richard Barrington and J.D. Roth are available for interviews on this topic and other topics relating to personal saving and investing.

 

Source:

• Reuters: http://www.reuters.com/article/pressRelease/idUS159835+29-Oct-2009+PRN20091029

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