Sunday, May 20, 2012

49% of Americans saving zilch for retirement




America has a serious problem saving for retirement.
Nearly half of consumers said they aren't planning to contribute to an IRA for their retirement, because they can't afford to.About 49% of Americans say they aren't contributing to any retirement plan, according to a new survey conducted by LIMRA, a trade association for the financial services industry.
"The findings from this survey were disturbing, given that people will increasingly need to rely on their personal savings to make ends meet in retirement," said Matthew Drinkwater, associate managing director at LIMRA's retirement research division.

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