Dire jeremiads about America’s looming retirement crisis are so common that it seems “retirementcrisis” is one word. The doom-and-gloom narrative goes something like this: Spendthrift Americans aren’t saving enough, so their living standards will plunge in retirement, and Social Security will buckle from the financial strain of too few workers supporting too many retirees.

Dark visions about retirement in America may be somewhat understandable considering the following: the nation’s deeply flawed retirement savings system; the forecast that Social Security’s reserves will run out in 2035 and the fact that local government retirement systems’ obligations to public sector retirees are increasing faster than the assets set aside to pay for them.

Depressed? Then take a moment to learn about a new report by the nonpartisan Urban Institute think tank: “Nine Charts about the Future of Retirement.”
— Read on www.marketwatch.com/story/how-grim-is-the-future-of-retirement-2019-08-06