Video: The New Rules for Retirement

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Planning for retirement has never been tougher. According to a recent survey by The Charles Schwab Corporation (SCHW), more than a quarter of the 4,000 participants are concerned that their parents and siblings will rely on them for financial assistance in their golden years.

The key to being financially self- reliant is education, the survey says. While only 3% consider Americans to be financially responsible, 95% believe we need more financial education, especially in high schools.

TheStreet.com’s Gregg Greenberg sat down with Liz Ann Sanders, Chief Investment Strategist at Charles Schwab, to find out how Americans can adequately prepare for retirement. Here's what he learned.