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Through most of his working life, steelworker Ray West looked toward a secure retirement. His company pension would bring in around $30,000 a year, his union contract guaranteed retiree health coverage and he had 401(k) savings of about $50,000.

Okay, the first thing I noticed was the bolded area. When Sandman retired, we had close to $1m and I was terrified. I was certain we were going to go broke, and wind up on a government bail-out.
This guy saved $50K and thinks he's doing good??? What planet has he been on?
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