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Retirees, Are you better off than 3-5 Decades ago?

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Retirees, Are you better off than 3-5 Decades ago?

Can you afford to retire?

 

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Americans say they are worse off today than 50 years ago

MarketWatch, Dec 6, 2017

But people in these 20 countries say they’re better off

 

What a difference half a century makes. If, that is, you’re not living in the U.S.

Are you doing better than the previous generation? The Pew Research Center, a nonprofit think tank in Washington, D.C., asked nearly 43,000 people in 38 countries around the globe that question this past spring. Residents in 20 countries said people like them were better off than they were 50 years ago. In Vietnam, 88% felt better off, followed by India (69%), South Korea (68%), Japan (65%), Germany (65%), Turkey (65%), the Netherlands (64%), Sweden (64%), Poland (62%) and Spain (60%). Overall, 43% of people in those countries said they were better off.

 

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All told, a majority of respondents in these 20 countries said they were better off.

However, the U.S. wasn’t one of them.

The U.S. was among the other 18 countries in which people said they were actually worse off than half a century ago. In Senegal, 45% felt this way, followed by Nigeria (54%), Kenya (53%), the U.S. (41%), Ghana (47%), Brazil (49%), France (46%), Hungary (39%), Lebanon (54%) and Peru (46%).

 

Venezuela, which has suffered from political unrest and economic turbulence in recent years, was last on the list.

Some 72% people there said they felt worse off than 50 years ago (only after Mexico, Jordan and Argentina).

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Americans say they are worse off today than 50 years ago and this is how much money parents lose supporting their adult children MarketWatch

 

As more Americans become rent-burdened, homelessness rises in the costliest areas

Higher rents and purchase prices have serious consequences, like exacerbating homelessness.

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The Very Real Retirement Crisis

 

YOU WILL NEVER BE ABLE TO RETIRE

Comments

Conservative Mexican 3 hours ago
I am able to retire by living below my means

Jim Rhine 3 hours ago
I think a lot of people will end up investing in the Smith and Wesson retirement program.

 

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Broken Eggs: The Looming Retirement Crisis in America

Published on Oct 6, 2017
Broken Eggs Awakens America to the Looming Retirement Crisis

What was once a life ending in happily ever after is now a life ending in working ever after. If retirement feels more like a fairy tale, it is in the feature-length documentary Broken Eggs. The film takes a rare look at one of the gravest social issues facing an aging America – the grim irony that even as we live longer, a growing number of Americans are falling short of a secure and comfortable retirement. And the prognosis is even worse for future generations.

“Broken Eggs blends comical animations with unforgettable portraits of everyday Americans reckoning with their inability to retire.”

Social Security is 20 years short of insolvency; pensions are largely underfunded and in sharp decline; and personal savings are at historic lows. Unlike any documentary of its kind, Broken Eggs blends comical animations with unforgettable portraits of everyday Americans reckoning with their inability to retire. Audiences of every generation will leave rattled and ready to put their Nest Egg back together again.

The hard-hitting documentary also features wide-ranging, high-profile interviews with economists, policy makers and financial experts, all who confront the undeniable, but often ignored facts that have put the American dream of retirement in jeopardy.

Social Security is projected to be insolvent in 2033. In 1950, there were 16.5 workers for every Social Security beneficiary. Today, there are less than 3 workers paying in for each recipient.
Company-sponsored pensions have been in rapid decline since the 1980s. Today, less than one out of every five private sector employees has a pension.
As a group, American workers are estimated to be $6.6 TRILLION short of what they need to retire comfortably.
10,000 Baby boomers are reaching “retirement age” every day.
40 percent of Baby boomers expect to work “until they drop”.
Almost half of American workers have less than $10,000 in savings.
Americans who make it to age 65 today can expect to live roughly 18 years more. That’s six years longer than Americans who made it to age 65 in 1940.

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