Millions of Americans drew down their retirement savings to pay for an emergency during the year past, according to a new report.
Bankrate.com unveils this finding in a survey conducted by Princeton Survey Research Associates International (PSRAI). The report finds that 21 million Americans aren’t saving for retirement at all.
The research shows that millennials are the least likely to dip into their retirement funds prematurely (only 8 percent did so over the past 12 months). In fact, millennials are the most likely age group to note an improved overall financial situation over the past year (40 percent say they’re better off and just 11 percent say they’re doing worse).