August 19, 2014

Americans Aren’t Saving for Retirement

Saving money for retirement isn’t as popular as you might think. CBS News reports, “More than one-third of all working-age adults haven’t managed to save any money toward retirement, according to a new survey by Bankrate.com. The personal finance site found that 26 percent of people 50-to-54-year-olds and 14 percent of those age 65 and older have no savings.” Perhaps it’s the economy putting the squeeze on budgets and leaving little room for retirement savings. Or perhaps we’ve just lost the discipline of previous generations. Whatever the reason, it’s a worrisome trend when the insolvency of Social Security is virtually certain. What happens when Social Security crashes and a third of adults have nothing set aside? More…

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