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The hard truth about Americans' retirement options
The hard truth about Americans' retirement options

Alicia H. Munnell has some gloomy words for Americans about retirement. "There are only three options," she writes in her new book, "Falling Short: The Coming Retirement Crisis and What to Do About It." "The first is to simply accept that we are going to be poor in retirement. The second is to save more while working, which means spending less today. The third is to work longer, which means fewer years in retirement. Those are our only options." Munnell should be heeded, for as director of the Center for Retirement Research at Boston College she is one of our leading scholars of retirement economics. "Falling Short," she told me in an interview,...

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