More than one-third of middle class Americans could end up at or near poverty in retirement, according to a new Wells Fargo Retirement Survey.
A survey of 1,000 middle class Americans, conducted by Harris Interactive from July 9-Sept. 4, found that 52% of middle class Americans believe their most important day-to-day financial concern is paying the monthly bills, up from 37% a year ago. Savings for retirement comes in second with 16% of respondents saying it was a key concern.
More than half (53%) of those surveyed said they are not confident they will have saved enough for the life they want in retirement, up from 42% in 2011.
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