“Retirees hoping to live on the proceeds from their 401(k) savings or similar venues are due for a big surprise, as such holdings aren’t enough to sustain a decent lifestyle, which puts many aging Americans ill prepared for retirement, said John Bogle, founder of The Vanguard Group.
In an interview with USA Today, when asked what worries him the most, Bogle replied “the coming train wreck in the financial system.”
Too many people have not prepared enough for retirement.”
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