Retirement fears may loom large when your income is small. Today, 38 percent of households say they live paycheck to paycheck, according to a study by the Consumer Federation of America and the Certified Financial Planner Board of Standards. And one-third of Americans worry they'll never be able to retire, according to a survey from Pentegra Retirement Services.
"For so many Americans, planning for retirement seems too enormous to tackle, and it feels like it is already too late," says Rich Rausser, senior vice president at Pentegra. "But it's not so."