People of all ages should begin planning for retirement and managing their money well so they are ensured enough income when they do retire. Retirees estimate that people will need 71% of their pre-retirement income to maintain their current lifestyles. Stocks and 401(k) plans are recommended.
Nonretired Americans with household incomes that average more than $50,000 assumes they won't be able to retire until age 59.
More than a third of affluent retirees with children and grandchildren are helping to support them financially, as are 29% of all retirees. …
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