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Retirement Math Revealed | Business and Finance News
Description
Most Americans want to retire at 58 but are way short on savings—only $261K on average, while aiming for $1.06M. Delaying Social Security to 70 boosts monthly checks, but at a steep cost: you skip 12 payments a year, missing out on over $140K in potential income and tax advantages. While delaying may help some, especially those with long life expectancies or late starters, it’s not a universal fix. Your health, goals, and finances should guide your decision—not just the numbers.
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