New research has found that one-third of Americans have less than $1,000 in savings and investments that could be used for retirement.
Financial experts say the news is alarming but not surprising.
Jay Knudtson at First Missouri State Bank said it's easier said than done to save money now, because you will need it later.
He said the important thing to stress is be realistic and do what you can.
"People are living longer," Knudtson said. "People are working harder but retirement is something that takes on a whole different meaning today because of some of those statistics you talk about."
Thirty-six percent of Americans have less than $1,000 saved for retirement. With the next highest group falling in the $1,000 to $10,000 category.
Knudtson said these numbers are a realistic picture of what people are up against.
"I think sometimes we are quick to judge people and say why didn't you plan for retirement," Knudtson said. "The fact of the matter is they are going day to day and week to week."
Knudtson said retirement is crucial. He knows it may not be easy to shuffle your budget, but if you can save a few bucks here because he believes it's worth it.
"You have to have a plan in place and you have to sacrifice a little bit to be able to ensure that you have that nest egg at the end of your work career," Knudtson said. "Be committed to it and it will hopefully serve you well when that money is going to be so needed to help supplement whatever remains in social security at the end of their working career."
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