Social Security Report

Peak 65. Haven’t heard of it? It’s coming in 2024. - AMAC & thestreet.com

Cyrus Bamji, guest contributor to the street.com, explains that in 2024 the U.S. will mark a historic demographic milestone called Peak 65. That’s when our nation will experience more Americans turning the traditional retirement age of 65 than at any time in history. Census data states that at Peak 65 next year, more than 12,000 Americans will turn 65 each day, an estimated 4 million. But half of these Peak 65 Americans have $100,000 or less in investable assets according to newly released 2023 Protected Retirement Income & Planning Study (PRIP) from the Alliance for Lifetime Income. Many will be unable to maintain the lifestyle they desire in retirement, or worse face the prospect of outliving their savings. Read more about this phenomenon as well as this silver lining– many consumers and financial advisors changed their approach to retirement planning after Covid. Full piece here.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.