This Is the No. 1 Reason Millennials Struggle With Retirement Savings
Setting money aside for retirement is no easy feat, especially when near-term bills monopolize your limited income. Such is the plight for a large number of younger workers -- millennials whose earnings have yet to peak and who are grappling with various forms of debt, from student loans to credit card balances.
But surprisingly, younger workers don't cite debt as the primary reason they're behind on retirement savings. According to TD Ameritrade's 2019 Retirement Pulse Survey, 66% of millennials say they need to catch up on building their nest eggs. But the No. 1 reason they're behind is none other than high housing expenses.
If your housing costs are preventing you from building long-term savings, you should know that that's a dangerous path on which to continue. And the sooner you change course, the greater your chances of giving your nest egg a much-needed boost and salvaging your senior years.
Source Fool.com
