Latest News
How Inequality is Worsening the Retirement Crisis
The gap between the top 1 percent of American earners and everyone else will play out for years to come, thanks to its impact on retirement savings. Income inequality is wreaking havoc with the ability for low- and middle-wage earners to put money aside, according to a new report from the National Institute on Retirement Security. While the rich have always been able to put money away, the past five years of widening income inequality means that fewer low-income Americans today even have a retirement account…..
The statistics are sobering: 45 percent of American households don’t have retirement accounts. Almost two-thirds of Americans who are between 55 to 64 years old (and are therefore approaching retirement) have less than one times their annual income socked away, which the report notes is far from what they’ll need to maintain their standard of living. Read More…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.