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SAMUELSON: Retirees likely better off than many believe
Can America afford to retire? As millions of baby boomers pass their mid-60s, the specter of widespread under-saving has taken hold. Huge numbers of present and future retirees will exhaust their savings before they die. Mass hardship looms. It’s a scary vision. But is it likely? Probably not. Typical retirees are hardly bereft. In 2010, roughly 80 percent of households 65 to 74 owned their homes, and half of these had fully repaid their mortgages, reports economist Peter Brady of the Investment Company Institute, the trade group for mutual funds…Read More