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In regard to the amount of money needed to cover costs of health care, prescription drugs and health insurance in retirement, "approximately 1 in 10 workers think they will need to accumulate less than $50,000 (12 percent) and 2 in 10 each think they will need $50,000-$99,999 (20 percent) and $100,000-$249,999 (20 percent). Less than one-quarter think they will need at least $250,000. Almost one-quarter of workers have no idea how much they will need (23 percent)", according to the 2007 EBRI Retirement Confidence Survey. (Fig. 20. p. 18)
Helman, R., VanDerhei, J., & Copeland, C. (2007). The retirement system in transition: The 2007 retirement confidence survey (Issue Brief No. 304). Washington, DC: Employee Benefits Research Institute. Retrieved December 8, 2007 from http://www.ebri.org/pdf/briefspdf/EBRI_IB_04a-20075.pdf
These findings are part of the 17th annual Retirement Confidence Survey (RCS), a survey that gauges the views and attitudes of working-age and retired Americans regarding retirement, their preparations for retirement, their confidence with regard to various aspects of retirement, and related issues. The survey was conducted in January 2007 through 21-minute telephone interviews with 1,252 individuals (1,001 workers and 251 retirees) age 25 and older in the United States.
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