Americans saving less for college, retirement

As the cost of living has risen in the U.S., families and retirees are saving less, reports Reuters.

According to a new survey by education lender Sallie Mae, says the outlet, “[the] average amounts saved for college have fallen 25% since last year, and fewer middle-income families are saving for higher education.”

Read: University educations paying off in the U.S.

Plus, “savings for all purposes, including retirement and emergencies, [have] plunged to $98,867, from $115,604 last year.” Read more.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.