Affluent Americans may not be as ready for retirement as they believe, according a new survey from Charles Schwab & Co.

The survey found that while most affluent Americans have a retirement plan in place (84%) and feel confident about their retirement readiness (80%), they may be underestimating how much money they will need once they retire. Survey respondents estimate they will need on average about $66,000 in annual income, significantly less than their current average income of $115,000. 

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