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There
was a study done by the Social Security Administration.
They randomly sampled 100 people, at the start of their early career
and followed them for 40 years until retirement age. The results
were both astounding and scary.
Out
of the 100 only 1 became wealthy; 4 ended up financially secure;
5 had to continue working, not because they liked it so much but
rather out of necessity; 36 were dead; and 54 were dead broke living
on their meager Social Security checks, and the charity of their
friends and relatives.
This
is 5 percent success, 95 percent failure.
So, Plan for
Needed Income for Retirement
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