Survey: Americans not saving for retirement
1 in 3 workers say they have less than $1000 saved
LA CROSSE, Wis. (WKBT) — New numbers show many Americans aren’t saving as much as they should for retirement.
A survey from the Employee Benefit Research Institute shows that nearly one in three workers have less than $1,000 in savings and investments for retirement. Nearly 60% say they have less than $25,000 saved.
Financial experts say that’s a mistake, and the key to a comfortable retirement is starting early.
“You should start saving right away, as young as you can,” said financial advisor Mike Klauke. “With your first job you should try to put some money away, because the whole key to retirement savings is time. The more time you have, the more money you’ll have when you retire.”
Experts recommend having money for your 401(k) or IRA automatically deducted from your paycheck every month.