The 2006 EBRI Retirement Confidence Survey results are out, and Americans' retirement hopes are like Swiss cheese, the survey concludes--full of holes. A large majority of Americans expect that they will enjoy their retirement years, but too many have not actually taken any steps to make their hopes a reality. Thus, their confidence levels are just not realistic.

The survey was released yesterday and shows that many Americans have accumulated only modest retirement savings and underestimate how much they will need for retirement.

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