The last few years have been tough on retirement savings.

Finding and keeping a job has been a challenge for many. Those who were laid off had to dip into their 401K plans just to survive. Home values — which often served as the backbone of a retirement plan – have plunged in value. Low interest rates, market volatility, and rising health care costs make saving for retirement even more complicated.

A survey by the Employee Benefit Research Institute shows that 56% of workers have saved less than $25,000, according to USA Today.

“People are frightened, confused and scared about their prospects for retirement in today’s economy amid changing rules” said Valerie Coleman Morris, a former CNN financial journalist. “In order to plan for tomorrow, you must understand your options for today.” … Continue reading »