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Ascensus' Annual Savings Trends Report Reveals How Individuals Are Saving for Their Financial FuturesDRESHER, Pa., Nov. 6, 2018 /PRNewswire/ -- Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has released its annual savings trends report, Inside America's Savings Plans. As the nation's largest independent recordkeeping services provider and government savings facilitator, Ascensus offers a unique, comprehensive perspective into how Americans are saving for the future. The report provides insight into the savings behaviors of 401(k), 529, health savings, and ABLE account holders on the Ascensus platform and reveals how key elements of plan design can impact savings outcomes. This represents the first annual report in which Ascensus has incorporated data on ABLE savings behaviors; the firm will continue to share insights into the development of this new market as more Americans begin to invest in these specialized accounts to support beneficiaries living with disabilities or blindness. The following trends reflect how savers are leveraging and engaging with tax-advantaged savings vehicles administered by Ascensus. Savers are beginning to recognize the importance of starting to save early in their adult lives.
Savers are making progress toward their goals but are still facing an overall savings deficit.
"Our analysis offers some preliminary answers as to how and when individuals are saving for a more secure financial future," states David Musto, president at Ascensus. "But at its core, it confirms that there's no one-size-fits-all approach to planning for what matters most—retirement, education, and healthcare." "Employers, state governments, and financial advisors continue to play an integral role in encouraging individuals to make the most of the savings tools available to them," concludes Musto. For additional trends and insights from Ascensus, visit pulse.ascensus.com. About Ascensus 1Average Published Undergraduate Charges by Sector, 2017-18. Source: The College Board, Annual Survey of Colleges.
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