Survey says large percentage of Americans have no retirement savings

JACKSON, Tenn. — A recent survey by the American Association of Retired Persons (AARP) finds that 20% of adults ages 50 and older have no retirement savings.

However, it’s never too early or too late to start on your retirement savings plan.

If you’re eligible for a 401-k plan at work, you’re encouraged to take full advantage.

Have a plan, set goals, and monitor your progress as you go.

Remember that savings is a mindset and it’s best to practice savings until it becomes a habit.

“By the year 2030, one in five persons in the U.S. Will be over the age of 65 and this is a group that is worried that either they don’t have enough or no savings at all,” said Indira Venkat, senior vice president of research at AARP.

Experts say it may be helpful to have an accountability buddy or financial planner.

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