(NEW YORK) -- Most Americans aren't saving any more money for retirement than they were last year, a new survey from Bankrate.com finds.
"Only 18 percent of Americans are actually saving more for retirement now than they were last year," says Greg McBride, a senior financial analyst for Bankrate.
He adds that a similar percentage of consumers are saving less.
"They don't have a whole lot of extra money laying around. Wages are flat particularly when adjusted for inflation but they're not really in a position where they can ramp up their retirement savings from one year to the next," he explains.
Despite that, however, McBride says that many Americans feel more financially secure than a year ago.
"We've seen six consecutive months where people feel their financial security has improved," he notes.
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