This Is the Reason Almost 70% of Workers Can't Save for Retirement
Though Social Security helps seniors pay the bills, those benefits aren't designed to sustain retirees in the absence of other income. Social Security will replace about 40% of the typical worker's pre-retirement wages, but most seniors need roughly twice that amount to maintain a decent standard of living once they're no longer earning a paycheck from work. That's where personal retirement savings come in.
But not everyone enters retirement with a loaded IRA or 401(k), and for almost 70% of workers today, saving for the future is off the table for one big reason: They have too much debt.
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Source Fool.com
