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October 24, 2013

Most Americans accumulating debt faster than they’re saving for retirement

by The 401k Study Group ®

For three of every five workers, mortgages, credit card balances and loans outpace their savings.

Chuck Hammond, PPC, CMFC‘s insight:

A majority of Americans with 401(k)-type savings accounts are accumulating debt faster than they are setting aside money for retirement, further undermining the nation’s troubled system for old-age saving, a new report has found.

See on www.washingtonpost.com

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