A survey reveals that only 17% of adults consider saving for retirement as their top financial priority.

• A majority of survey respondents expressed concern about not being able to retire by the age of 65.
• 46% of respondents reported having less than $15,000 saved for retirement.
• The main financial goal of survey respondents this year is boosting nonretirement savings.

Many Americans are prioritizing other financial matters over saving for retirement at the moment.

Despite 59% of respondents worrying about not being able to retire by age 65, only 17% have made saving for their post-working years their top financial priority for 2022, according to First National Bank of Omaha's latest financial wellness survey.

A majority of survey respondents reported having less than $15,000 saved for retirement.

Over 1,000 U.S. adults participated in the survey conducted in February, which was weighted to accurately represent the population.

What are the primary financial goals of people this year? According to a survey, about 40% of respondents aim to increase their nonretirement savings, while 30% focus on paying off debt.

Prioritizing retirement savings is crucial for financial well-being, but it depends on various factors such as personal situation, employment, savings, and debt, according to Sean Baker, executive vice president of the individual customer segment for First National Bank of Omaha.

Many workers face a pressing issue of retirement security as research consistently reveals that many people have not saved enough for their golden years. With the decline in traditional pensions offered by companies, retirees are left to rely on Social Security and their own savings to fund a retirement that could last for two or three decades.

A report from PwC states that about a quarter of U.S. adults have no retirement savings. The median 401(k) account balance for those aged 55 to 64, who are generally near retirement, is $84,714, according to Vanguard's latest How American Saves report.

According to Fidelity Investments, it is recommended to have 10 times your annual salary saved if you want to retire at age 67.

Saving for retirement while managing other financial priorities can be challenging, but it's important to try and save as much as possible, advised Kathryn Hauer, a certified financial planner at Wilson David Investment Advisors in Aiken, South Carolina.

Committing to depositing a small amount in a 401(k) or individual retirement account can help manage the demands, according to Hauer.

Start small with irregular deposits of whatever random amount you can spare," she said. "Every little bit helps.

The 2022 contribution limit for 401(k) plans is $20,500, with an additional $6,500 catch-up contribution for those aged 50 and above, resulting in a total of $27,000. For IRAs, eligible individuals can contribute up to $6,000 in 2022, with a catch-up contribution of $1,000 for those aged 50 and above, resulting in a total of $7,000.

First National Bank of Omaha's survey revealed that 30% of respondents feel their financial well-being is better post-pandemic, while 44% said it's roughly the same. Approximately one-third (34%) of participants believe their credit history hinders their financial wellness.