Americans are spending their retirement savings
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June 20, 2008

Americans are spending their retirement savings

This shouldn't come as much of a surprise: Rising food and energy costs are crimping Americans' savings for retirement. Overall, 55% of households said they've cut back on retirement savings because of higher prices, according to a survey the brokerage Edward Jones recently released. The percentage was highest among households with less than $50,000 income, women, young adults and African Americans.

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