Atlantic Magazine article on US pensioner poverty

[jwkr]

I don’t think this article from the Atlantic Magazine on US pensioner poverty has been posted yet

There has been some comment on it in a UK forum. Mainly about how could a society as rich as the USA permit this to happen and secondly how can we avoid it happening in the UK.

 

[MichaelB]

jwkr, is there something specific about the article you’d care to highlight or point out as noteworthy?

 

[REWahoo]

This Atlantic article looks like a rehash of the LA Times piece discussed in this thread:

http://www.early-retirement.org/for...etire-too-young-to-die-80589.html#post1690246

 

[jwkr]

Thanks REWahoo I hadn't searched far enough back. Looking at the response in that original thread the response on the UK forum was very similar. So probably nothing further to add!

 

[Senator]

It sounds like another article vilifying savers and giving non-savers a pass on personal responsibility...

They are probably trying to set the mindset to means or asset test SS.

The retirement-savings system in the United States has three pillars: Social Security, employer-sponsored pensions or retirement-savings plans, and individual savings. But with the rise of less stable jobs and the decline of pensions, a larger share of older Americans are relying only on Social Security, without either of the two other pillars to contribute to their finances.

This by definition means they have less money than they did when they were working: Social Security replaces only about 40 percent of an average wage earner’s income when they retire, while financial advisors say that retirees need at least 70 percent of their pre-retirement earnings to live comfortably.

 

[Alan]

If you wish to continue the discussion please do so on the existing thread.

http://www.early-retirement.org/for...etire-too-young-to-die-80589.html#post1690246