A day of reckoning has arrived to retiring Americans: 63 percent of Americans that start working by the age of 25 will be dependent on Social Security, relatives, or charity by the time they hit 65.
The notion of retirement is a fairly new one outside of wealthy circles. For most of civilized history, people worked until they died. Not a glamorous way to go but that is simply the course of human history. Only until recently with the emergence of the middle class was there a general semblance that retirement […]
New definition of retirement = work until you die: Half of Americans have little to no savings for what will likely be a long and drawn out retirement.
The ideal vision of retirement is one of constant leisure supported by a sizable nest egg. Building a nest egg takes decades of discipline and careful planning. Unfortunately, many Americans did not adequately prepare and combined with the casino like financial system, many have been washed out of the system. Many retiring baby boomers are […]
Old, broke, and financially unprepared for retirement: Many older Americans are simply unprepared for the costs associated with retirement.
America is graying out. The massive cohort of baby boomers are now entering retirement age at a rate of close to 10,000 per day, or roughly 300,000 per month. Many are fully unprepared for the challenges associated with retiring and living a life where work income becomes a smaller source of support. The workforce during […]
A demographic time bomb: Over the next decade 20 percent of the US population will be 65 years of age or older.
It is no secret that the United States like many developed nations is facing a demographic shift of epic proportions. Within the next decade 20 percent of the US population will be 65 years of age or older. This will place severe constraints on young workers, Social Security, and Medicare. Roughly 300,000 Americans per month […]
The impending retirement crisis: Pushing the financial constraints of an economy where many will rely on Social Security for the bulk of their income on the backs of a growing young low wage workforce.
There is a looming retirement crisis on the horizon. Most Americans are ill prepared for a long-term retirement. Back in the early 1980s, over 60 percent of American workers had access to some sort of pension plan. Today, that number is less than 10 percent. Planning for the future is challenging because it takes discipline, […]
The comprehensive guide on why you will never retire living the way you do: Examining the typical $50,000 household budget and why most Americans have nothing to very little saved for retirement.
We are facing an impending retirement crisis of epic proportions. The math is tough to look at. We have a growing population of aging baby boomers hitting retirement age with weak investment portfolios. Many will face increased healthcare costs since most of healthcare spending tends to hit in old age. Many older Americans are finding […]
How many Americans live paycheck to paycheck? A nation living precariously close to the financial edge.
The fuel that drives our economy is spending. There are few nations that rival our ability to spend. We spend with the gusto of a shop-a-holic. The assumption is that we simply have the money lying around to spend at this level. That is simply not the case since most Americans are flat broke by […]