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The 7 Biggest Financial Challenges Senior Citizens Are Facing in Retirement
(By - Sean Williams)
Retirement is supposed to be a period of joy for senior citizens where they’re able to travel, reflect, and sometimes just put their feet up if they choose to do so. Unfortunately, far too many senior citizens are finding themselves denied of the American dream of retiring comfortably and on their own terms. Based on a study conducted by Bankrate in 2014, more than a third of all working adults had failed to save a cent toward their retirement. This rate was particularly high among millennials, but even among those aged 65 and up, 14% reported no retirement savings! In other words, if the data from this study carries over into the broader population, one-in-seven seniors has no retirement savings whatsoever. Read more…
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