The Insecurity Of Social Security

Jon Economy

Via RealInvestmentAdvice.com,
According to the June 2017 snapshot from the Social Security Administration, nearly 61.5 million people were receiving a monthly benefit check, of which 68.2% were retired workers. Of these 41.9 million retirees, more than 60% count on their Social Security to be a primary source of income.
Of course, that dependency ratio is directly tied to financial insolvency of the vast majority of Americans. According to a Legg Mason Investment Survey, US baby boomers have on average $263,000 saved in defined contribution plans. But that figure is less than half of the $658,000 they say they will need to retire. As noted by GoBankingRates, more than half of Americans will retire broke.

This post was published at Zero Hedge on Aug 11, 2017.