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The Savings Crisis and an Inevitable Outcome
Alana Semuels, staff writer at The Atlantic, offers a real-life account of the one person severely impacted by America’s “savings crisis,” noting that “Increasingly, we’re seeing folks who are becoming poor for the first time in old age.” The statistics are covered constantly in the media, where reports of dramatically decreasing savings rates and depletion of cash reserves surface just about every day. Ms. Semuels’ post presents a glimpse of how older Americans are affected, and offers projections on what lies ahead. Read her post here…