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Student Debt Has Big Impact on 401(k) Savings
Having $30,000 in student debt can cut as much as $325,000 from 401(k) balances by the time an individual reaches retirement. So reports CNBC.
According to LIMRA, student debt can reduce how much workers in their 20s and 30s contribute to their savings plans, thereby resulting in lower 401(k) balances over time.
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