15 Ugly Truths About Retirement

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… Or Whether You’re Older

Sadly, baby boomers — the group closest to retirement age — aren’t doing much better.

According to the GOBankingRates retirement survey, 38.75 percent of people over age 55 have retirement savings below $50,000, which is considered insufficient for those approaching their golden years. Late savers might have to play catch-up with their retirement contributions — or even delay retirement for a few years.