Six years ago, I wrote an article titled ‘Grasshopper Nation’, warning about how poorly prepared Americans are for retirement.
Sadly, the data has only gotten worse since then.
I’ll deliver the punchline here first, and then get into the underlying data:
Right now, as the largest generational cohort in history has reached retirement age, tens of millions of Baby Boomers in America have insufficient savings to retire or otherwise fund their living costs during their twilight years.
This is a massive economic and humanitarian crisis in the making, with no credible plans from the government currently on the table to address it.
In fact, we’re not even having a national discussion about it right now, because we’re not yet even acknowledging that we have a problem.
Until we shake free from this denial, we will continue to fall deeper into this hole of generational insolvency – while the timeline of consequences accelerates towards us at a faster rate.
Ok, now that I’ve got your attention, let’s look at the data…watch this video.