BlackRock CEO Larry Fink Says Investing for Retirement Should be "Almost Automatic" for American Workers. Here's About How Much to Be Setting Aside Each Month.
Once you retire, you'll generally be eligible for some sort of monthly benefit from Social Security. But it's important to have savings beyond those benefits, since they'll probably only replace about 40% of your preretirement income if you earn an average wage. And that's without the potential for benefit cuts.
As such, it's important to do what you can to save for retirement on your own. And if you were to ask CEO Larry Fink, he'd tell you that it's imperative that you allocate money for your retirement on a regular basis.
Image source: Getty Images.
Source Fool.com