The Frightening Reason 84% of Americans Are Struggling to Save for Retirement
There are plenty of scenarios where workers find themselves forced to delay their retirement savings. Those who start out earning limited wages often don't have the leeway to part with money that's needed for immediate bills. Meanwhile, those sitting on credit card debt often opt to pay off their balances before funding a nest egg in an effort to avoid exorbitant interest charges.
But a new study by TIAA uncovers a disturbing trend on the retirement savings front: An estimated 84% of Americans say that outstanding student debt is hurting their ability to sock away money for their golden years.
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Source Fool.com
