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Article: Generation Xers lag in retirement savings; On track to replace just 54% of income, survey shows.(News)
- Article from:
- Investment News
- Article date:
- March 26, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kathie O'Donnell
BOSTON - Generation X households are on track for a 46% pay cut when they hit retirement, steeper than the 38% drop baby boomers are likely to face, according to a survey that Fidelity Investments released this month.
Working American households where a Gen Xer - which Fidelity defines as those ages 25 to 42 - is the financial decision maker are on pace to replace 54% of their pre-retirement income once they retire, according to the Fidelity Research Institute, which the Boston-based mutual fund giant recently created to study personal-savings issues.
By contrast, the typical working American household is on pace to ...
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