The population may be aging, but that hasn’t gotten a lot of Americans to plan for retirement. About 71% of Americans lack a formal investment plan to help them reach their retirement goals, according to one study.

The study, conducted by the ING Retirement Research Institute, showed that nearly half (48%) of respondents aged 25 to 69 who are employed full-time and earn at least $40,000 a year don’t feel prepared for retirement. That’s despite the fact that 75% of that same group do contribute to their workplace’s retirement plan.

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