News | 11.29.18
U.S. Workers Don't Start Saving for Retirement Until 31: Nationwide Survey
The average U.S. worker doesn't start saving for retirement until he or she is 31, a new survey commissioned by the Nationwide Retirement Institute found. Of the more than 1,100 employed Americans surveyed, 76 percent said some factor has prevented them from to contributing as much as they wanted to their retirement plan. The three main factors were: not making enough money (44 percent), daily expenses (41 percent), and paying off debt (38 percent). However, when asked what age people should start saving for retirement, 42 percent said between the ages of 18 and 24, while 35 percent said between 25 and 30.
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