47% of Americans Aren't Taking Advantage of This Way to Exponentially Grow Their Savings

Retirement is becoming more expensive than ever, with the average worker estimating they'll need around $1.7 million saved for retirement, according to a survey from Charles Schwab.

Although many workers know they need to be saving well over $1 million by the time they retire, the median amount baby boomers have stashed in their retirement accounts is just $152,000, according to a survey from the Transamerica Center for Retirement Studies.

Saving for retirement takes decades of hard work, and if you wait too long to get started or don't save much on a regular basis, it will be difficult to reach your goal by the time you retire. But besides simply not saving enough, there's another factor that may be putting your retirement savings at risk: being too safe with your savings.

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Source Fool.com