Retirement readiness means having saved enough over one's working years to convert those savings to a lifetime income stream that allows living comfortably throughout retirement.

It may seem like a simple proposition, but the path to get there isn't always clear.

In the past, Americans counted on defined-benefit (DB) retirement plans, such as pensions, to provide income for life. However, while some workers—especially in the public sector—may have DB plans today, most don't. 

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