23% of Americans Are Saving More for Retirement -- Here's Why You Should, Too

23% of Americans Are Saving More for Retirement -- Here's Why You Should, Too

According to a new report by Bankrate.com, 23% of working Americans increased their retirement savings contributions in the past year. This is the highest percentage in Bankrate's six years of collecting such data, and represents a major boost from previous years. Here's why Americans are saving more for retirement, and why you should consider doing the same.

Nearly one-quarter of American workers have increased their retirement savings contributions during the past year alone. This is up significantly from the 2011 report, which found that just 15% of Americans had increased their savings rate, and 29% had cut their savings rate in the previous year.

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Source: Fool.com