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How much money will it take for you to retire in style? Will $1 million do the trick? How about $5 million? Or perhaps you can get by on less.
If the question leaves you scratching your head, you’re not alone. Fewer than half of American workers have estimated how much they’ll need to retire, according to the Employee Benefits Research Institute. The biggest risk retirees may face is running out of money while they’re alive. It’s an all-too-possible scenario, even if you have substantial assets.
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