Filed Under:Annuities, Suitability

Middle class struggling to save for retirement

According to Wells Fargo Middle Class Retirement Study

As it becomes harder and harder for middle class Americans to meet their monthly financial obligations, funding their retirement is becoming less and less of a priority; a trend that will lead to Americans working longer, which could have widespread social and economic implications for the country.

In its third annual Middle Class Retirement study, Wells Fargo found that more than half of the middle class survey respondents (59 percent) ranked their top day-to-day financial concern as paying their monthly bills, up from 52 percent the previous year. While middle class Americans struggle to meet their immediate financial obligations, saving for retirement becomes obscured.

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Nichole Morford

Nichole Morford
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