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3 in 10 Americans pessimistic about retirement

The new study, released Tuesday by the Employee Benefit Research Institute, shows the highest level of cynicism ever recorded by the survey and is up from 23% last year, and is the highest in the surveys history.

Twenty-one percent of Americans were “not too confident” in their retirement prospects, or about 1 in 2.

Just 17% believe they are doing a good job preparing for life after retirement.

The report also indicates many Americans are overestimating their ability to work after they reach their ‘golden years’.

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