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Having trouble getting that THIS IS YOUR LIFE? Here are three pretty typical single Americans with different incomes and a 22-year age range. This is what's happening to their money now--and what they can expect when they're old and deserve some rest. The scenarios, based on a book by C. Eugene Steuerle and Jon M. Bakija called Retooling Social Security for the 21st Century: Right & Wrong Approaches to Reform, are calculated in 1993 dollars and assume there will be no substantial changes in the Social Security system (or--unlikely--in our subjects' incomes) between now and their various years of retirement. Steuerle and Bakija are among very few experts on this. Economists tend to avoid long-term projections because of all the variables: government policy, changing income, the size of the national debt, and the unpredictable economy.
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