While most people know that they should be saving for retirement, a vast majority of American workers are saving much less than they need to retire comfortably. For young people there are several factors that can explain the embarrassingly low rate of retirement savings. In addition to high unemployment rates for young people during and after The Great Recession, it is extremely difficult to envision ourselves that far into the future. In fact, researchers have found
that when we think of our future selves we use the same part of our brain as when we think about a stranger. The following infographic shows some scary facts about the current state of American’s retirement savings.
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Category: Money Basics