Retirement Crisis Is Making the American Dream a Living Nightmare

The American ideal of retirement is quickly becoming a terrifying nightmare. Simply put, millions of Americans won't be able to retire, much less enjoy the retirement of their dreams. While past generations could ensure their futures by relying on a mix of social security, individual savings, and employer-sponsored plans, all of these institutions are crumbling at an alarming rate and are no longer a viable way to establish a strong financial foundation for retirement. Many middle-class Americans will soon be dismayed to learn that they will have to work for a lot longer than they had anticipated, economists foresee. According to research, the great majority of Americans who are approaching retirement age barely have enough saved to support a $3,600 yearly income, despite the fact that they would need approximately 20 times that amount to cover basic needs and growing healthcare costs. In today's video, we discuss the current precarious state of the retirement market and why this escalating catastrophe will leave America in ruins.

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[proadlekopy]

Government reckless spending and policies are wrecking the citizens retirement

[Thomas-pqys]

I'm retired. I live frugally. My Social Security is a pittance. I dip into my savings, often. I know others in a similar condition. We need a "raise, " bit time.

I'm healthy, and think I'll live a long life... Now, I live one day at a time... my income is less than $1k per month, I pay a mortgage, and all the usual bills....

[jpdriver]

Got lucky. Learned on my own by accident in my 20s that you have to invest in yourself first. A percentage of earned income every month must be invested for retirement. It is an individual responsibility that most people never learn or think about. It takes 30+ years of compounded interest from investments for the average person to see meaningful results. Our public education system needs to do a much better job in teaching personal finance and investment to high school seniors.

[talkingdentalinnovation]

Retirement at a specific age has only existed for the past 125 years. Before that, people worked at their capacity until death. A retirement pention was introduced during times of manual labor. The old workers were not efficient enough compared to young people. Companys sent them home with a pension so they could get someone more efficient. Now people live until they are in their 90s. That could be 30 years of retirement. That is a lot of time without producing services to the community. (I'm generalizing, so do lots after 60 years old). The concept needs to be revised. Indead of retirement it should be a slow down. Utelizing the skills acquired over the past 40 years of full-time work to be utilized in a different way 15 to 20 hours a week. The goal should be to be out of debt at 60 and then only require low income to live.

[ajett]

Don't worry, J Biden has it all figured out for us. Super brain.

[robertdais]

Nothing new here. Video is a waste of time rehashing same old data that's been around for decades.