Average 55-year-old has less than $55k saved for retirement

A recent Prudential report reveals a concerning trend: the average 55-year-old has less than $50,000 saved for retirement. This falls drastically short of the recommended benchmark, which suggests individuals should have saved eight times their annual income by retirement age.
Yahoo Finance reporter Kerry Hannon delves into this critical issue, offering strategies for those nearing retirement to boost their savings and tips for maximizing retirement savings at any age.
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