10 Tips for a Financially Sound Retirement
By Vinita Singla, special to CNBC
NEW YORK (CNBC) -- If saving for retirement was a struggle before the financial crisis of 2008, imagine how lost jobs, flat wages, underwater mortgages, higher energy and food costs, and local and state tax hikes have combined to make the goal even harder.
Insufficient retirement money is the number one financial worry among 66% of Americans, according to a Gallup poll. Yet many of them have long-term retirement savings plans.
Americans who don't save for retirement often outlive their assets. Of those folks, 68% have less than $1,000 in savings, according to the Employee Benefits Research Institute, EBRI. "More and more in today's environment, people really have to take responsibility for their own retirement security," says Jean Setzfand, AARP's vice president for financial security.
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