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Most Americans adding debt faster than savings
More than half of Americans with 401(k) accounts are accumulating debt faster than they are putting away money for retirement, according to a new study which indicates the average 401(k) user puts around 11 percent of his income away for retirement every year through savings and social security taxes. But such savings remain “stubbornly low,” according to the personal finance site, which noted the typical worker nearing retirement has roughly only two years of replacement income stashed away...Read More
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