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| | For one Troy woman, renting makes sense - 12/20/04 |
 | | Mack also estimates England would need $25,000, or 20 percent of a $125,000 home or condominium, to avoid paying private mortgage insurance, or PMI, on any home she purchases. |
 | | That's not bad, Mack says, but he expects retirees will need more like 110 percent of their pre-retirement income, mostly because people are living longer and items such as health insurance are becoming more expensive. |
 | | Mack believes England could fully finance her retirement at the level of 106 percent of her current income, or about $38,000 a year, if she maximized her annual 401(k) contribution, received Social Security payments and contributed the full amount allowed to a Roth IRA through age 65. |
| www.detnews.com /2004/money/0412/20/B01-37224.htm (1561 words) |
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