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Retirement savings? For many, the amount is near nothing

Traditional pension plans have pretty much disappeared, and Social Security was never intended to provide more than 40% of your retirement income, leaving savings and investments as an increasingly critical component of anyone’s retirement plan. Trouble is, many who are now working but will someday transition to their “golden years” have absolutely nothing saved for their future. The percentages get a little better for those who are older, but among the so-called millennials – today’s younger workers – about 39% have nothing at all saved. And even among baby boomers – those soon to retire – about 34% have nothing socked away for those fast-approaching days of leisure. So what to do?  This article by Motley Fool’s Daniel B. Kline appearing at (ID) offers some tips, after revealing some statistics on the sad state of savings by future retirees. Click here to read more.

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