(CNBC) — Most people know they should save more for retirement, but many can't — or won't — because they say it's hard, confusing, or it is simply not their only priority.
A recent survey by Charles Schwab found 35 percent of 401(k) participants say they aren't willing to sacrifice dinner out, vacations and other "quality of life" expenditures to save more.
But would you forgo a night out at Olive Garden or a trip to Disney if you knew that that Uncle Sam would help you cut your tax bill dollar-for-dollar depending on how much you save?
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Many low- and moderate-income workers may think they don't have enough money to save for retirement, but they may be unaware of the Saver's Tax Credit.