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A new study from Americans for Secure Retirement shows that Alaskans are at a high risk of outliving the money they have saved for retirement. 73 percent of Alaskans near retirement will outlive their savings, and 58 percent of recent retirees will do the same. The only options are to delay retirement, increase income - perhaps through a part-time job - or to cut expenses. These figures are very close to the national numbers, where 75 percent of near retirees and 60 percent of recent retirees face the same dilemma.
If you’re thinking that Social Security will provide adequate income to maintain your lifestyle in the manner to which you have become accustomed, think again: on average Social Security provides only 40 percent of retirement income.
