Money Smart: Retirement planning

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More Americans are living longer which means more people are working longer.

A study by T Rowe Price showed that more than half of employers automatically enroll their employees into a 401K program.

They say when employees are automatically enrolled, 88% stick with it.  But when they're not, less than 50% contributed to a 401K savings plan.

Experts recommend saving 15% or more of your salary.  If you can't do it all at once, start saving gradually, experts say.

They say even 1-2% per year can make a difference and add up.