Almost 40% of working Americans said they will never afford retirement, according to a report released by the American Institute of Certified Public Accountants.
Retirement ranked as the most important issue out of all financial concerns facing Americans, including uninsured medical expenses and rising education costs. The majority, or 56%, of those polled said they were not saving for retirement, mostly because of the toll higher gas and food prices were taking on their budgets.
Click here to view the full CNN Article and calculate how much money you will need for retirement. Would you like more information? See the Ultimate Guide to Retirement.
Contact an MCB Tax Adviser today at 703.218.3600 to discuss your retirement plans and develop an effective tax strategy.