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February 22, 2021 10:31 AM Taylor Tepper - Forbes Advisor
Posted:
Updated:
February 25, 2021 7:52 AM
Retirement should inspire thoughts of mixed drinks on the beach and long afternoons with the grandkids. But for many people, just mentioning the word spurs anxiety.
Younger Americans are waiting too long to put money away, middle-aged workers rarely make up for lost time and people approaching retirement hope to hold onto their jobs long enough to save just a few dollars more.
Most people know they should be doing more to save for retirement, yet too few of us are doing the right thing. As a result, about half of Americans are in store for a lower standard of living and less financial freedom once they quit working and rely on a fixed income.