Catch-Up Strategies to Close a Retirement Savings Deficit

As diverse as the American population is, the vast majority of us, regardless of age or background, are united in our concern about saving enough money to live comfortably during retirement.

It turns out that a large percentage of Americans worry they haven’t saved enough for retirement — and justifiably so, judging by their collective savings habits. Indeed, according to 2014 findings from the Employee Benefit Research Institute, 24% of U.S. workers are “not at all confident” they’re saving enough to live comfortably during retirement, while only 18% are “very confident” they’re doing so.

That confidence deficit corresponds to a stunningly large shortfall in retirement savings.

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