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Retirement savings: Why $1M may not be enough
One million dollars in retirement savings sounds like a lot, but financial experts warn that even a seven-figure nest egg may not be enough for the average couple. So how much is enough – and how can you get it? For bare-minimum saving, CBS News contributor and analyst Mellody Hobson recommends the average person needs 70 to 80 percent of their annual income for each post-retirement year. Read more…
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