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How traditional retirement formulas fall short

How you’re being misled by retirement-saving advice

By – PAUL  A. MERRIMAN, MarketWatch

As baby boomers approach and reach retirement age, there’s a lot of anxiety regarding whether or not they will have enough financial resources. Many somewhat simplistic formulas have been applied to this question, each of which is at least somewhat useful — but each falls far short of doing the whole job. Example: You can afford to retire when you have investment assets equal to (fill in the blank) times your current cost of living. This is good because it focuses on replacing a pre-retirement cost of living. But it doesn’t take other assets, obligations, income and uncertainties into consideration. Read more…


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