Fidelity Finds Student Debt Cuts Retirement Savings for Older Workers by 30%
Workers aged 50 and above carrying student loans have significantly smaller retirement balances compared to peers without debt, according to Fidelity Investments.
Summary
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Terms & Concepts
Retirement balance: The total amount of savings accumulated in accounts intended to fund expenses after retirement.
Student debt: Outstanding loans taken to finance education, which can impact long-term financial stability.