The shift from traditional pensions to 401(k) plans hasn?t gone well for most workers. One in two U.S. households are destined for a lifestyle downgrade in retirement, data show, as guaranteed lifetime income from old-style pensions disappears. But new research finds that most families can stay on track to a comfortable retirement by regularly saving 15% of pay over 30 years. Start earlier, and you only need to put away 10%.
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