Study offers hope for pre-retirees worried about savings

07/4/2013 | Reuters

The replacement rate for a worker's salary in retirement is less than typically assumed, especially for workers with higher incomes, according to a study by Dimensional Fund Advisors. People who make less than $26,000 will need as much as 82% of their working income in retirement, but those earning $50,000 to $87,000 will need only 62% of their last salary, the study says.

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