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Outside the Box: Fears of a retirement crisis are overblown — and these numbers prove it

You read about the “retirement crisis” in newspapers and on the internet. You see members of Congress pushing to expand Social Security and bail out insolvent “multiemployer” pensions, all in fear of retirees falling into poverty.

In a country of 325 million people, it’s certainly not hard for reporters to find legitimately heart-rending stories of Americans who, for one reason or another, reached retirement age with inadequate savings.

But an accurate picture depends on data, not anecdotes. And for readers weaned on headlines such as “A Generation of Americans Is Entering Old Age the Least Prepared in Decades,” the data on retirement are stunningly positive.

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