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Many Americans are speeding down the road to retirement insecurity, and they may crash sooner than they realize.
"Last year, we released a report on Generation X and retirement security in which we found that the median Gen X household has only $40,000 saved in private retirement accounts," said Tyler Bond, research director for the National Institute on Retirement Security. "So the time to act is now. The retirement savings crisis that many experts and advocates had been predicting for decades is here. We know that these conversations are only going to increase in importance in coming years."
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