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Why Age 70 Isn't the New 65
CBS MoneyWatch Link to more items from this source
Jan. 17, 2013

"For one-third of households in which the people were between ages 30 and 59 as of 2007, working until age 70 won't provide adequate income in retirement.... [But] working longer does help. While only about half of households age 50-59 in 2007 could retire at 65, the number increases to nearly two-thirds if retirement age is increased to 70. Those extra five years have a dual effect. Not only do workers save more, they also delay dipping into their retirement funds, allowing those funds to continue growing."

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