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Retirement crisis: Will you run out of money in your golden years?

A 2024 study by Morningstar reveals a looming retirement crisis with up to 45% of seniors retiring at 65 at risk of running out of money. Wealth host Brad Smith discusses how those retiring at 62 face even higher risks. The US Census Bureau shows that 48% of retired adults rely on income outside Social Security, with 401(k) plans being the largest source. Morningstar suggests workplace investment plans could help avert the crisis, stressing the importance of strong portfolios and early savings. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Josh Lynch