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The article discusses the average spending of retiree households in the US, which is around $60,000 per year, about 20% less than the average household. However, per-capita expenses can actually increase in retirement due to higher healthcare costs. The article suggests strategies like working longer and saving in a 401(k) to prepare for retirement.

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Gen X is facing the biggest challenges in building a retirement nest egg due to competing financial obligations like raising young families and caring for aging parents, as well as the impact of inflation and rising costs of living. Experts advise Gen Xers to make a detailed budget and invest wisely to secure their financial future.

Related tickers: FDHC.