Fewer pensions, educational debt and a lack of financial literacy are all contributing to Generation X and late baby boomers’ difficulty retiring early, according to a Forbes article. Though financial planners recommend saving enough to replace at least 70% of your annual income, most members of these two generations are projected to replace only half their income instead. With the current cost of education, people focus on tackling debt before they even begin to think about saving for old age. Not only that, but people are borrowing in “riskier, more costly ways.” The article also discusses the shift away from defined retirement plans for workers, a significant factor in retirement funds. However, its final point is clear: no matter your situation in life and in the workplace, saving for retirement must be a priority.