Saving for Retirement Back in Vogue, AARP Says

There is a silver lining in these dismal economic times, according to AARP: a resurgence in savings, particularly for retirement.

“For those just entering the workforce, and even for boomers getting closer to retirement, the notion of saving for retirement is back in fashion for all age groups,” the Washington-based seniors group said in a study issued Wednesday, April 1.

The AARP telephone survey of 1,035 Americans, conducted February 27 through March 8, found that nearly eight in 10 adults have either started to cut back spending or have started to save more money in the past year for emergencies and their retirement.

Of those, almost three in four are doing so to save more for retirement.

However, while saving has taken on a new priority in most households, almost two-thirds plan to spend at least some of the 2009 stimulus benefit.

Filed by Sara Hansard of Investment News, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.