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10 Forces Conspiring Against Your Savings

National debt

Few would argue against the notion that the nation's staggering debt is setting up an economic disaster. The remedies, however, could prove dangerous for your retirement strategy.

Already there is vigorous debate on how to cut or modify Social Security and Medicare. Also under the microscope: tax incentives to help save for retirement.

A national survey late last year by Lake Research Partners and Public Opinion Strategies -- commissioned by Americans for Secure Retirement -- found that 88% of voters view tax incentives to help save for retirement as important. That included 81% of self-identified tea party supporters, 83% of Republicans, 86% of independents and 94% of Democrats.

Nevertheless, Congress is considering proposals to change the tax preferences for employment-based 401(k) retirement plans. According to the Employee Benefit Research Institute, changes to allowed tax deferrals could result in an average reduction in 401(k) account balances of 6% to 22% at Social Security retirement age for workers now ages 26 to 35.

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