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Half of Americans close to retirement haven’t saved for it

(By – Lane Anderson, Moneywise)

As baby boomers roll toward retirement, half of them don’t have retirement savings, according to a new report from the U.S. Government Accountability Office. Fifty-two percent of households 55 and older haven’t saved a dollar for retirement, according to the study, although half of those do have a pension. Among the 48 percent that report some retirement savings, the median amount is $104,000 for households age 55-64, or about $310 a month. Read more…

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