(09-12-2012, 12:24 PM)Bolty Wrote: A staggering 38% of workers between the ages of 45-54 have less than $10,000 of retirement savings and a mind boggling 29% of workers over 55 have less than ten grand in their retirement savings, according to the Employee Benefit Research Institute. It is no longer a matter of people deciding whether to save, it is a matter of saving or else living in abject poverty in their old age.Absolutamundo. http://www.ebri.org/pdf/surveys/rcs/2012...saving.pdf
I'll try to find a credible link to another potential nightmare... and this is why the national debt really matters. Currently we have about 3 workers for every retiree. By 2035 we'll be more like 2 workers for every retiree. So much for the great society pyramid scheme.
http://www.ssa.gov/OACT/TR/2010/tr10.pdf Page 10 --
"There were about 3.0 workers for every OASDI beneficiary in 2009. This
ratio had been extremely stable, remaining between 3.2 and 3.4 from 1974
through 2008, and is lower for 2009 due to the economic recession. The projected
future increase in the cost rate reflects a projected decline in the number
of covered workers per beneficiary. The ratio of workers to beneficiaries
is projected to decline, even as the economy recovers, because the workers of
the baby-boom generation are being replaced in the workforce by relatively
low-birth-rate generations. This ratio reaches 2.1 by 2035 when the baby boom
generation will have largely retired, with a further gradual decline
thereafter due to increasing longevity."
Or, a the Herald-Tribune has pictures -- http://www.heraldtribune.com/apps/pbcs.d...e=graphics