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The portfolios and confidence of all investors fell hard in the market collapse of 2008 - perhaps none more crushingly than those of Baby Boomers on the cusp of achieving their retirement dreams. Many near-retirees, especially the vast majority who have no traditional defined benefit (DB) pension, are postponing their retirement today because their investment holdings fell by a third or more, even those in thought-to-be safer "Target-date fund" accounts. Recent retirees, similarly expecting income from ravaged Defined Contribution (DC) plans, are scrambling to cut living expenses to make ends meet.
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