Affluent Americans may be confident they will have enough money to retire comfortably, but they may be underestimating what they will need to live on once they actually retire.
According to a new survey by Charles Schwab of 1,800 investors in nine U.S. markets, 84 percent of investors say they have a retirement plan in place and 80 percent of these say they are confident about their financial readiness for retirement.
When asked how much they would need annually in retirement, the average estimate was $66,000, which was far lower than their current average income, which was $115,000 a year.
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