More Than 20% of Americans Save $0 for Retirement Each Year. Here's Why That's a Problem

Some people have the goal of wrapping up their careers with a $1 million nest egg. Others may be content to enter retirement with a few hundred thousand dollars in savings.

The amount of money you'll need for a comfortable retirement will hinge largely on your expenses and goals. After all, a modest lifestyle that involves staying close to home is apt to cost less than one centering on global travel.

But for the most part, you should expect to need some amount of money in your nest egg to manage your living costs once your career comes to a close. Yet a recent NFCC and Wells Fargo survey found that while 63% of workers are confident they're saving enough for retirement, more than 20% are saving no money at all each year. And if you're part of that statistic, it's best to start making changes as soon as possible.

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Source Fool.com