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Inflation driving expectations way up on what is needed to retire - AMAC & CNBC
Call it the curse of high inflation, which peaked at over 9% last summer. Americans now say they would need to earn $233,000 on average to feel comfortable as per a recent Bankrate survey and $483,000 per year on average to feel rich. Lorie Konish reports on the new higher expectations in this piece. With Social Security replacing a scant 40% of pre-retirement income, saving a lot, and early on, is critical. Konish stresses small steps and investing consistently along with living within your means. Full article here.
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