Fidelity, AARP warn Americans on 401(k)s as new data highlights serious retirement savings risks. The average Social Security benefit is only $2,071 per month today. That is not enough for most retirees. Experts say early withdrawals can cut savings by up to 35% instantly. High taxes, penalties, and lost growth make the situation worse. Many workers still misuse 401(k) plans for short-term needs. Fidelity and AARP stress smarter planning now. Protecting long-term retirement savings has become more critical than ever.
