Retirement Crisis: Over half of Americans 65+ are earning under $30k per year - AMAC & Business Insider
Juliana Kaplan, writing in Business Insider, summarizes a new report from Sen. Bernie Sanders, Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee. It looks at the bleak future facing some older Americans and those who hope to retire someday. Sanders cited the National Retirement Risk Index which found that around half of households “will not be able to maintain their pre-retirement living standard,” and 56% of low-income households — and 45% of those who are middle-income — were “at risk” of not maintaining those pre-retirement standards at age 65. Potential solutions could include enhancing Social Security checks and setting up automatic retirement accounts. Full piece here.
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