Study: 83% of Americans will have to work into their 70s in order to afford to retire
The future of retirement in America is looking bleak, with 83% of Americans predicting that most people will have to work into their 70s in order to afford to retire[1][2]. This statistic is a reflection of the current state of the economy, which is characterized by rising education costs, a shift of economic risk from companies to individuals, and a lack of financial literacy classes in high school[2][4][6].
The situation is particularly severe for young people, with 57% of 22–24-year-olds facing financial precarity[3]. However, it’s important to note that younger people are in the best position to recover if they’ve fallen behind because they have more time to use compound interest to their advantage[1].
Saving the World with MARXISM | Noah Khrachvik | Midwestern Marx #165 HR
The rising cost of education is one of the main factors contributing to the bleak outlook for retirement. According to a survey conducted by Pew Research Center, 54%…
