In June, when he got his first job out of college, Nick Studenski did what most Americans are told to do. He started saving for retirement.
The 23-year-old from Eagan invested heavily in his company’s 401(k) plan and, on the advice of his dad, contributed additional money to an individual retirement account. In a few months, Studenski set aside more than $5,000 of his salary.
In a few weeks, more than 20 percent of that money disappeared.