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Millions of Seniors Can’t Even Afford the Basics

Katie Brockman cites a recent study from the Center for Social and Demographic Research on Aging that roughly half of adults over age 65 who are living alone can’t afford to pay for their basic necessities.  The culprit may be over reliance on Social Security benefits, which only replace about 40% of pre-retirement income.  But the word does not appear to be out on that.  Brockman notes people must save more, much more, in 401k plans and IRAs.  Read the entire piece here.




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