49% of middle-class workers will be poor in retirement

retirement

To maintain living standards into old age we need roughly 20 times our annual income in financial wealth.

In 2010, 75 percent of Americans nearing retirement age had less than $30,000 in their retirement accounts. Downward mobility in retirement is a looming reality for both middle and higher-income workers. Forty-nine percent of middle-class workers will be poor or near poor in retirement, living on a food budget of about $5 a day.

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Are Future Generations On A Path To Downward Mobility?

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Health spending could threaten future living standards

Every generation of Americans should live better than its predecessor. That’s Americans’ core definition of economic “progress.”  But for today’s young, it may be a mirage. Higher health spending, increasing energy prices and stretched governments at all levels may squeeze future disposable incomes — what people have to spend — and public services. Are we condemning our children to downward mobility?

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