The “Retirement Crisis” in America
There has been much discourse recently on a “retirement crisis” in America. This crisis boils down to the difficulty in or the ineptitude of Americans to properly save and plan for retirement. Social Security is a great boon to those entering retirement, a safety net to make sure that no worker is completely without means in their senior years. However, Social Security is not meant to be a primary source of income in retirement, the bulk of your post-working income should come from personal savings such as 401(k)s and IRAs. This problem has arisen in the wake of the antiquation of the pension system in many careers. For more information visit this article by Jim Puzzanghera with The L.A. Times.
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