Poll: Rich Americans underestimate retirement needs

03/8/2013 | OnWallStreet.com

A new survey shows that affluent investors may be overly optimistic when it comes to predicting their readiness for retirement. The poll from Charles Schwab found that while respondents now earn an average of $115,000, they think they only need about $66,000 in retirement, and most plan to work part time or not at all after they retire. In reality, said a Schwab official, most retirees need their same annual income after they retire unless they dramatically change their lifestyle.

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