How well prepared you are for retirement may come down to one simple question: what do you do with money that once would have been spent on your kids?
In recent years, two common models of retirement preparedness in America have begun to draw vastly different pictures. The optimal savings model, which looks at accumulated savings, concludes that only 8% of pre-retirees have insufficient resources to retire comfortably. The income replacement model, which looks at the level of income that savings will generate, concludes half the working age population is in deep trouble.
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