Now why does she care???
Our dear kpete lives in her widdle McMansion in CA. She likes to pretend she'sWed Mar 27, 2013, 09:48 PM
America’s future: too frail to work, too poor to retire will become the “new normal”
We are on the precipice of the greatest retirement crisis in the history of the world. In the decades to come, we will witness millions of elderly Americans, the Baby Boomers and others, slipping into poverty. Too frail to work, too poor to retire will become the “new normal” for many elderly Americans.
That dire prediction, which I wrote two years ago, is already coming true. Our national demographics, coupled with indisputable glaringly insufficient retirement savings and human physiology, suggest that a catastrophic outcome for at least a significant percentage of our elderly population is inevitable. With the average 401(k) balance for 65 year olds estimated at $25,000 by independent experts—$100,000 if you believe the retirement planning industry—the decades many elders will spend in forced or elected “retirement” will be grim.
According to the author, the impending crisis will happen in ‘waves’ to a majority of elderly Americans:
Wave 1: Retirees Come Back To Work
Wave 2: Workers Delay Full Retirement
Wave 3: Full Retirement Is Unachievable
Wave 4: Drowning
one of the "little" people but she wouldn't want the average DUer anywhere