Financial advisers for years have warned about a looming shortfall
between what people have saved and what they’ll need to maintain their
standard of living in retirement.
And, certainly, what Americans have put away for retirement is paltry.
Unless we all start saving like crazy, the pundits say, we’ll have
nothing to live on during our so-called golden years. Or we’ll all have
to work into our eighties — if they let us.
But maybe we should look at it another way. For most Americans, Social
Security will be their primary source of retirement income. Everything
else — IRAs, 401(k)’s, even some old-fashioned defined-benefit pension
plans — will be icing on a not-very-rich cake.
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