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Back in 1950 retirement was short, lasting, on average, a few years. So, for those lucky enough to get a pension or disciplined enough to save, there was little risk of running out of money during retirement.
But today, a time when people are likely to live into their mid-80s or 90s... a time when many retirees are as fit and active as 40-year-olds... a time when long-term care can cost $70,000 a year or more... a time when retirees' health will inevitably diminish as healthcare and drug costs keep skyrocketing... a time when pensions are scarce-well, they all add up to costing seniors a lot more money at a time when their monthly paychecks have stopped.
Yep, today, retirement is more complicated. And more costly.
Truth is, if you're not financially prepared for retirement, your Golden years may turn out to be fool's gold. Let's take a look at how retirement has changed over the last century and why Y.O.U.R. Plan is custom-made for the New Rules of Retirement.
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