Monday, March 3, 2014

U.S. Next Big Crisis will be a Retirement Crisis

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:
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).

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