Coopersmith conceded, however, that turning this widespread "concern" into action — getting young adults to save, put money into a 401(k) plan — is difficult. The median head of household younger than 35 has only $1,900 in their checking and savings accounts, according to the latest Federal Reserve data. (Financial planners often recommend that people should save roughly 10 percent of their annual salary. Even if half of the $1,900 is in savings, that is too little unless the person makes only $9,500 a year.)
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Annual Salary
Financial Planners
Savings accounts
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