Being certain of anything isn’t easy. But the quest for certainty has a gigantic upside, if we can just open our eyes to it. One of those upsides is a better retirement income than expected.
I learned this from Marlena Lee. She is one of the Ph.D.’s that occupy the gleaming office presence of Dimensional Fund Advisors along the Capital of Texas Highway to the west of Austin. In last week’s column, her research showed that we don’t need to replace as much of our income when we retire as conventional wisdom dictates. She also showed that many people are saving close to the necessary amount, not pathetically below it.
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