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Saving for Retirement Q&A

Posted Oct 23 2008 6:15pm

ForBaby Boomers, retiring can be both a blessing and a curse.

While the idea of not working can sound sublime, it also means that financial preparations should have been made years in advance.  But according to "Good Morning America" financial contributor Mellody Hobson, with a little planning and a lot of saving, you can live a financially secure life in your golden years.

If you have questions like what formula to use for calculating how much you will need in retirement....or....what to do if you haven't saved enough but are getting close to ten years from retirement, click here.             

Manchild_18 One of the best approaches for those with an underfunded retirement is to move into a phased retirement where you only work where and when you want to.... doing what you do best

According to a survey conducted by Kansas State University, almost 80 percent of boomers expect to continue working after they retire.  Not only will working longer allow your personal retirement fund to increase but the amount you will receive in Social Security payments will also increase. 

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