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Americans wish retirement plans were started earlier

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According to a recent study by ING Direct USA, 89 percent of Americans agreed that saving for retirement should begin when a person lands his or her first full-time job and it should continue throughout that individual's career.

The study states that Americans are making too many excuses when it comes to saving for retirement, which will put them in a financial bind in the long run. Statistics of the study show that one-third of Americans think it's acceptable to defer retirement saving in order to pay for current financial needs.

"You have to plan for retirement from day one in the workforce, even as little as a 5 percent salary contribution annually is going to help retirement come sooner," said Arkadi Kuhlmann, president and CEO of ING Direct USA. "By using the tools available to help you plan, you can have the retirement lifestyle you always wanted."

According to the study, 21 percent of Americans who are in their 20's believe that paying off student loans is more important than saving for retirement, and less than half check their credit scores and read about financial planning.

According to AskMen.com, most Americans don't think about life insurance or retirement planning until it's too late. The website encourages everyone to explore the possibilities of life insurance in order to properly prepare for the future. 

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