Coming soon: The Worst Investing Returns in 30 Years leads me to think that retirement, as we know it today, may not exist in the future. With stock market returns lower, social security potentially being cut, the likely end of corporate pensions, future retirees will need to depend on themselves to increase savings early to have sufficient funds in retirement.
Given that the median retirement saving today is $60,000, it doesn't seem likely young worker's today will save sufficiently to retire.
The new normal may be working for one's entire life. And we may need to prepare our kids for that potential outcome.
For more on Crossing Generations, check back Thursdays for a new segment.
This is not financial advice. Please consult a professional advisor.
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