51% of Older Workers Could Get $2,000 or Less From Retirement Savings
Income from retirement savings is crucial as a supplement to your Social Security benefit if you don't want to face serious financial worries in your later years. Unfortunately, recent data from the Insured Retirement Institute revealed many older workers have investment account balances that are far too low.
In fact, according to IRI's data, 51% of older workers have less than $50,000 saved for their retirement. This could be a huge problem for a few key reasons.
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Source Fool.com
