Fifty-six percent of American households lag in saving for retirement, according to a Federal Reserve economic survey commissioned by the Consumer Federation of America and

Related opinion polls by the same companies revealed that only 44 percent of households with a currently-employed household member will accumulate adequate retirement savings and 59 percent expect to have a lower standard of living in old age than they currently have. Level of household income, the development of a financial plan and participation in an employment-related retirement plan ranked as the most relevant factors in having adequate household retirement savings, according to the survey.

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