Many GenXers & Millenials Not Counting on Social Security

PGIM Investments is out with survey results on what Millenials (born 1981-1996) and Generation X (born 1960-1980) think about Social Security, retirement saving, and work.  Just 70% of Gen Xers and 51% of Millennials expect Social Security benefits when they retire.  Alarmingly, one-third of Millenials are saving nothing for retirement with an equal number saying they see no point in saving for retirement “because anything can happen between now and then”.  One in five Gen Xers are not saving anything for retirement.  Current retirees stress that younger generations should save more, start saving earlier, and plan to retire later.  Read more…  The Association of Mature American Citizens (AMAC) has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act”.  One of its several components is Social Security PLUS, a new, yet voluntary early retirement plan that would allow all earners to have more income available at retirement.  Learn more about AMAC’s Social Security Guarantee here…

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