Many American workers are carrying thousands of dollars in debt, and most say it impacts their financial security.
A Northwestern Mutual study found that U.S. adults who carry debt hold an average of $23,325, excluding mortgages. Seventy-eight percent of respondents also believe this affects their ability to achieve financial confidence.
Because of their debt, 29% of respondents said they delayed making significant purchases; 18% delayed saving for retirement; 14% delayed buying a home; 8% delayed having children and 7% delayed marriage.
The findings come as new research from the Insured Retirement Institute (IRI) says most workers nearing retirement in the next decade or two have inadequate savings and are not saving enough to catch up…
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