Wall Street endlessly gushes about retirement. Its TV commercials show how wonderful life will be in our golden years – when we are old, yet still healthy and wealthy enough to go hang-gliding every day.
Meanwhile, out here in the real world, most working-age Americans don’t want to talk or even think about retirement. Often this is because they know they aren’t saving enough and probably will have to work until they drop dead.
This is the elephant in the room. 10,000 US Baby Boomers turn 65 every day. For most, life at that milestone won’t look much like the TV commercials.
That sounds dire, but it doesn’t have to be. Let’s look at ways this problem could be solved.
But first, some more facts.
Retirement Shortfall
Lately, I’ve been working with John Mauldin to research the huge public pension fund shortfalls. But it’s not just big funds that don’t save enough – most individuals are in the same position, or worse.
Judging from the emails and comments I’m getting, Connecting the Dots readers are more financially sophisticated than the general public. You’ve probably prepared for retirement enough to live comfortably.
This post was published at Mauldin Economics on OCTOBER 10, 2017.
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