Commentary: 40% of the American middle class face poverty in retirement. How do we change that? t.co/3pArY3E7SW
— CNBC (@CNBC) November 18, 2018
- Some 40 percent of middle-class Americans are at risk of poverty in retirement, due to depressed earnings and asset values and increased health-care costs.
- Nearly three-quarters of workers now plan to work past traditional retirement age.
- Both workers and employers must focus on a fix: the former by saving more, the latter by ensuring that defined benefit plans are efficient and sufficient.
Over 33% of baby boomers have $0.00 saved for retirement.
Over 66% of baby boomers have less than $10,000 saves for retirement.
The average baby boomer has about $100,000 in debt.
Thanks for playing. pic.twitter.com/sC9B6yxgAX
— OW (@OccupyWisdom) November 18, 2018