It's a sad development, 50% of Americans aged 55 and up will retire in poverty or near poverty.
https://www.marketwatch.com/story/half-of-americans-over-55-may-retire-poor-2020-10-01
“Our data is showing that, because of the COVID recession, about 50% of workers over the age of 55 will be poor or near-poor adults when they reach 65,” she said.
How poor is that? “A person who’s 65 will be near-poor or poor if they’re living on less than $20,000 a year,” she told me. “I think we could all agree that means chronic deprivation for the rest of your life.”
https://www.marketwatch.com/story/half-of-americans-over-55-may-retire-poor-2020-10-01
“Our data is showing that, because of the COVID recession, about 50% of workers over the age of 55 will be poor or near-poor adults when they reach 65,” she said.
How poor is that? “A person who’s 65 will be near-poor or poor if they’re living on less than $20,000 a year,” she told me. “I think we could all agree that means chronic deprivation for the rest of your life.”