For all of the talk about the importance of saving for retirement through a 401(k) and other savings plans, 37% of those born in 1990 and just now entering the workforce will have no savings by the time they leave the workforce, according to a report from the Government Accountability Office. As a group, those retiring in the 2050s will have only saved enough money to replace 22% of their pre-retirement income.

Those who earn low salaries are particularly in danger of not being prepared for retirement, not just because they lack the funds to set aside but because the preferential tax treatment for contributions is not likely to persuade them to save.

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