Contrary to what many financial planners suggest, you can live on a lot less than 100% or even 80% of your pre-retirement income. In fact, a survey by T. Rowe Price of new retirees who have 401(k) account balances or rollover IRAs found that you can live comfortably on a lot less. The report suggests that nearly three years into retirement, the majority of retirees are living on just 66%
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