49% of Americans aren’t saving for retirement, are you?

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(CNN) – When it comes to saving for retirement, many Americans just aren’t doing it.

A new survey conducted by LIMRA, a trade association for the financial services industry shows about 49 percent of Americans aren’t contributing to either a 401K or an IRA plan.

Nearly half say they simply can’t afford it.

The number is highest among those between 18 and 34 with 56 percent not participating in a retirement plan.

A manager with the financial services trade association that conducted the survey calls the trend disturbing.

He says it’s critical that more people begin putting money away since they’ll have to rely more on their own savings once they retire.