Detailed text transcripts for TV channel - FOXNEWS - 20150304:16:32:00
Imagine this. most folks 54 to 65 in a typical working family have an average of $104,000 set aside for retirement. it sounds like a lot of dough but if you do the math, consider a withdrawal rate that's typical, about 4% a year it's not that much money. $4,000 a year. that's $350 a month. all you're really paying with that money maybe your cell phone, the cable bill. that's about as far as it goes. jon: so there are efforts to try to get people to save more money, right? >> that's right. there are a lot of efforts to do that but there's a short cut here that you should consider and that's pay...