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Retirees' Living Costs Higher Than Ever

World Journal, Posted: Jul 04, 2008


NEW YORK—-- Retirees in the United States need more money than ever to maintain their quality of life, according to new research from Hewitt Associates, a human resources company, reports the World Journal. Inflation, longer life expectancies and higher health care expenses, means that retired people need 126 percent of their former income to maintain their pre-retirement lifestyles, not 70 to 90 percent, as former research said. Statistics show that if employers don’'t provide a retirement plan that covers healthcare, only 19 percent of retirees can maintain their former standards of living.


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