Millions of retiring Baby Boomers have spent their entire working lives stuffing money into retirement accounts, but now they need to learn the smart way to take it out, says Jeff Maggioncalda, CEO of Financial Engines. Maggioncalda says the 78 million Boomers need to understand the best way to claim social security and pensions due them. He also says that many people currently in the workforce are incorrectly using target date funds to save for retirement. Finally, Maggioncalda says Boomers are concerned about changing healthcare laws and should immediately find low cost long term care coverage.
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