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Seniors risk outliving their retirement savings in these states

A new report indicates that older adults in 41 states and the District of Columbia are projected to outlive their retirement income. Those in these regions face an average gap of $109K. Nine states are identified as having sufficient financial cushions for retirees.

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What changed

New research identifies 41 states where seniors are likely to exhaust their savings.

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  1. Seniors in 41 States and D.C. Risk Outliving Retirement Savings

    A new report indicates that older adults in 41 states and the District of Columbia are projected to outlive their retirement income. Those in these regions face an average gap of $109K. Nine states are identified as having sufficient financial cushions for retirees.

    What's confirmed:

    • Retirees are likely to outlive their savings in 41 states.
    • Seniors in 41 states and D.C. face an average gap of $109K.
    • Retirees in Washington, New Hampshire, Colorado, Nebraska, Idaho, Minnesota, Utah, Maryland, and Montana are expected to have enough financial cushion.

    Still unconfirmed:

    • Social Security payments could be cut by as much as 22 percent in six years.
    • A $1M savings balance lasts 32 years for Texas retirees with Social Security.
    confidence 90%