Standard American Retirement plan equates to flying by the seat of your pants: The majority of older Americans rely on Social Security as primary source of retirement income.
Social Security keeps half of elderly Americans out of poverty. You need to recall that many older Americans came of age during the 401k cult worship of Wall Street. Greed is good as portrayed in the movie Wall Street. Stories developed as a sign of caution actually drove many to aspire to become financial mavens […]
Social Security helps keep half of elderly Americans from poverty: Social Security has become the de facto retirement plan for millions of Americans.
Social Security was never designed as a long-term retirement plan for millions of Americans. Yet Social Security has become the default retirement plan for many elderly Americans. In fact, if it were not for Social Security roughly 44 percent of elderly Americans would be in poverty. This is calculated by how many Americans receive Social […]
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 […]
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 […]