Sunday, July 29, 2012

This ...

Is gonna be a generational problem:

...

Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts. The specter of downward mobility in retirement is a looming reality for both middle- and higher-income workers. Almost half of middle-class workers, 49 percent, will be poor or near poor in retirement, living on a food budget of about $5 a day.

...

So the older folks will be destitute and the young can't afford to live. What does America become then?

2 comments:

Gordon said...

What does America become then?

A third-world banana republic without the bananas.

We hit retirement better prepared than that, thank goodness.

CAFKIA said...

Damn, I'm ahead of the curve.