Survey: Many middle-income Americans lack retirement facts

03/12/2013 | National Underwriter Life & Health

About a third of middle-income Americans older than 55 don't know they can significantly increase their future Social Security payouts by delaying when they begin to receive the benefits, according to a Bankers Life and Casualty study. The survey of middle-income Americans 55 to 75 also revealed that 47% incorrectly think that Social Security cost-of-living hikes are guaranteed and that 87% rarely consider the impact of longevity on their retirement planning.

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