Whose Retirement Crisis? Household Savings or Public Financing?
So interesting that the conception of a retirement crisis among the financial industry and policy makers is so different from what ordinary people in working households think the retirement crisis is.
To the finance and policy elites, the “retirement” crisis is that state and local government entities may have to raise taxes to pay for their pension obligations.
Closer to what ordinary people view as the retirement crisis is the World Economic Forum’s analysis (I was on the advisory board committee). The “retirement crisis” is the gap between what working households need and what they have. The World Economic Forum study showed that the six largest economies (the US, UK, Canada, Australia, China and India) faced a savings gap.
Read More: Forbes
