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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Sunday, July 30, 2006

Sources of Retirement Income

Do not depend on Social Security as your only retirement income.

  1. You cannot count on that money even being there
  2. Retirement age will be increased
  3. People who depend on it today as their only retirement income are living in near poverty
  4. If you are not in an some sort of qualified retirement plan it will be difficult to meet your retirement income needs
  5. If you have no post-retirement wages the potential for shortfall in your retirement planning may be even greater
To ensure a comfortable lifestyle during retirement, it is necessary to establish and maintain a savings plan that will bridge the gap between the income needed to retire comfortably and the income Social Security provides. Your 401k plan is essential to helping your financial future.


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