This Is Your Biggest Enemy When Saving for Retirement
When it comes to retirement, saving money is generally not enough; you will likely need to invest it to ensure you have enough to live comfortably in your later years. With banks offering historically low rates, here is your biggest enemy when it comes to saving for retirement.
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While a savings account serves a valuable purpose in your financial planning -- mainly as a place for your emergency savings (three to six months' worth of expenses) -- it shouldn't be the primary place to put your retirement savings. If you're wondering why, look no further than the interest rates offered on savings accounts.
Source Fool.com
