Americans have inflated notions of their financial savvy, andthat includes their efforts to save for retirement.
According to a study from Fifth Third Bank, although 48 percent ofAmericans consider themselves financially savvy, the reality oftheir financial situations is far different.
More than half of respondents, for example—55.2 percent—don’tcontribute to a 401(k), IRA, or other retirement plan.However, 46 percent agree that retirement savings should begin in aperson’s 20s.
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