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How Peer Pressure Can Help You Save for Retirement

What a new survey reveals about planning for the future
relates to How Peer Pressure Can Help You Save for Retirement
Photographer: Jason Molyneaux/Masterfile/Corbis

Peer pressure might start when you're a kid, but it can continue right into adulthood—and it can even affect your retirement savings.  

That's according to a new survey, which found that financial stress, feeling behind peers in savings and salary, or embarrassment over finances motivates almost a third of non-retirees to "make positive financial decisions." Thirty-seven percent of those taking the survey felt peers were ahead of them either in financial stability, current income, or saving for the future. That feeling was particularly strong among Gen X-ers and millennials, with 48 percent and 43 percent, respectively, feeling that they "lagged behind most people their age." Thirty-four percent of boomers felt the same way.