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Americans struggle to sock away retirement savings
Retirement planning is complicated for Americans of all age groups. In their early lives, many workers put off saving because they think retirement is eons away … then, in their 40s and 50s, these folks panic and race to catch up. According to a 2014 survey from the Employee Benefit Research Institute, only 64% of Americans have reported saving any money at all for retirement to supplement anticipated Social Security benefits. Those with some savings typically don’t have much. The EBRI survey found that roughly six of every 10 Americans have less than $25,000 in total retirement savings. Read more…