A new national survey by the Employee Benefit Research Institute polled over 1,000 working Americans to find that the majority of workers don't save enough or are unprepared for retirement.
Over half of those surveyed say they have less than $25,000 saved and a third less than $1,000! The majority say the easiest way to start saving money would be to start cutting back on eating out and takeout food.
Most people think they'll just retire later to compensate for their lack of savings. However, the survey also found that 50 percent of retirees left earlier than they planned to due to health problems or company foreclosures.
So why is it so difficult to save? The cost of living, combined with debt and day to day expenses are reported to be the biggest obstacles.
For more on this issue, watch this Newsbreaker clip:
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