A shocking number of Americans think saving for retirement ‘can wait’—here’s why money experts disagree

Nearly one in three Americans have less than $5,000 saved for retirement. Experts generally recommend trying to accumulate at least $1 million, which gets more and more difficult the longer you put off getting started. And still, an alarming number of adults think saving for retirement can wait.

Student-loan provider Navient conducted a national Money Under 35 study of more than 3,000 adults, aged 22 to 35. It reports that only three in 10 respondents are saving for retirement, and that almost four in 10 — including 45 percent of men and 30 percent of women, and even 35 percent of those who are 34 or 35 years old — believe they can safely put it off.

That’s because they “tend to prioritize short-term goals like home-ownership, vacation, paying down debt or building an emergency fund,” the study says.

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