Even Higher Income Families Feel the Squeeze

According to a press release, 46% of parents surveyed said they are not able to save for their children’s college education or have not yet started saving, expecting their child to get student loans or earn scholarships. In addition, 61% of respondents indicated they are nervous about retirement.

Even those with higher incomes are not saving for their retirement: 37% of households earning $100,000 to $125,000 a year and 47% earning $125,000 or more a year reported they have not started saving for retirement yet.

Other survey findings include:

• 67% of respondents reported their biggest economic concern is either “making ends meet” or “paying off debt.”
• 74% of respondents have cut or reduced eating out, and 71% have eliminated personal splurges.
• 65% of people have changed their driving habits, and nearly half of respondents feel the government should eliminate gas taxes to offset high gas prices.

The results of the survey are based on responses of 9,200 Disney Family.com visitors worldwide between August 11 and August 25.