Americans naive about retirement money

Americans naive about retirement money, study says

Americans are confident -- perhaps dangerously so -- that they will have enough money for retirement, according to a study by Employee Benefit Research Institute. Although the study found slightly more people are saving for retirement, about 50% of respondents thought they could live on 70% or less of their working income; financial experts recommend preparing to live on at least 70% of pre-retirement income.

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