Do the math: According to an EBRI survey conducted last year, 66% of workers have saved less than $50,000 for their retirement. And 28% have saved less than $1,000. Good luck with that.The full article mentions three new reports that document how unprepared Americans are for retirement. We need new systems to help Americans save for retirement, and I am not sure MyRA will really help that much (but it certainly cannot make this situation worse).
Monday, March 3, 2014
Brett Arends educates us once again. This time he writes about a crisis that needs to be on most Americans radar. We simply have not done a great job with the retirement experiment in the United States. From his recent article: