Stifling debt is keeping many American workers from saving for retirement. But it’s still possible to meet both obligations, personal finance experts say.
One in 3 employees who don’t contribute to their workplace retirement say it’s because they have too much debt, according to a survey this year by Natixis Investment Managers. More than 2 in 5 workers said general credit card debt hampered their retirement savings, while over a quarter of millennials cited student loans.
But delaying contributions – no matter the reason – hurts your long-term financial security in your golden years.
David Edwards, president of Heron Wealth in New York, encourages people to contribute at least a small amount to your retirement plan each month, even if they have debt.Read More