We all know the advice on retirement planning.
The younger you start, the easier it will be, and the less you’ll have to save.
Not everyone, however, is able to get that early start.
Ironically, the most common retirement savings account, the 401(k) plan, is not delivering adequate savings, according to the Economic Policy Institute. Americans ages 56 to 61 had a median 401(k) balance of just $21,000 in 2016, the institute found, using Survey of Consumer Finance data.
The good news is, it’s never too late. For one thing, you’ve still got compounding interest on your side. Read more…..
Chart of the Day
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