Retirement Savings Success

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Today Paul and Bethany are talking about retirement savings with Certified Financial Planner Kimberly Foss because so many people reach retirement age and are not ready. When it comes to managing our money, Americans have plenty of room for improvement.

Kimberly reports: The average American couple in their late 50's or early 60's had just $17,000 saved in a retirement plan such as a 401(k) or IRA.

While this is surely better than nothing, with just $17,000 in retirement savings, older couples will have to work longer and rely on Social Security for the bulk of their living expenses in old age, and that will put a strain on both the other generation and Gen x and y too.

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