Should Young People Save for Retirement? - 401
Your Money, Your Wealth
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Is It Important to Save for Young People?
Sally Kohn: I don't see any reason why you wouldn't want to save when you're younger. She says social security replaces 70, 80 or 90% of one's pre-retirement income. Most people will be in a lower tax bracket because they have no money and haven't saved. The average account balance of a retirement account is about $15,000 for the population as a whole.
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