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Mary Ellen (M.E.) Cagnassola is a Money reporter covering all things Social Security and retirement. She strives to translate stodgy policy news and research into engaging, informative stories that help readers navigate their retirement.
Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money.
There’s no perfect formula for a comfortable retirement — but even so, workers approaching retirement age may be majorly underestimating how much they’ll need to budget.
A recent report from the Nationwide Retirement Institute found that the expectations of retirement-age workers don't always line up with the financial realities of those who are already retired. In a survey of 1,000 U.S. adults aged 60 to 65, retired respondents said they spend a lot more on basic expenses than those who are still working predict they’ll need.
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