44% of Workers Are Procrastinating on Retirement Investing, and It Could Hurt Them Big Time
Because Social Security will only provide enough income, if you're an average earner, to replace about 40% of your paycheck, and most seniors need around twice that amount to live comfortably, you'll need income outside of your benefits to ensure that you're able to make ends meet once you're no longer working. And chances are, that income will come from the savings you amass in a 401(k) or IRA.
But consistently funding a retirement plan is only part of the picture. You'll also need to invest the money in that account wisely to ensure that it's able to grow in a manner that outpaces inflation. If you don't, you'll risk a major shortfall once your career comes to an end.
Unfortunately, new data from Transamerica reveals that almost half of workers aren't putting enough thought into how their retirement cash is invested. In fact, 44% say they prefer not to think about or concern themselves with retirement investing until they get closer to the age at which they plan to exit the workforce for good.
Source Fool.com
