Survey: 49 percent of Americans not saving for retirement

Syracuse (CNN) -- A new survey shows 49 percent of Americans aren’t contributing to a 401K or IRA plan. That number is highest among 18 to 34 year olds who say they simply can’t afford it.

A manager with the Financial Trade Association that conducted the survey says he finds the trend disturbing and says it’s critical people start putting money away since they’ll have to rely more on their own savings once it’s time to retire.