Looking to retire comfortably? Then don't retire in the United States.
The nation has the least generous retirement package of any wealthy
nation.
"We always are neck and neck with the United Kingdom, but other than the
U.K., I think we are among the stingiest," adds Alicia Munnell, the director of
the Center for Retirement Research at Boston College told CNBC.
But other nations are catching up. Not because U.S. benefits are getting
better but because theirs are getting worse. At the same time, however, the
organizations studying retirement plans, Organisation for Economic Co-operation
and Development and Melbourne Mercer Global Pension Index, admit there are many
factors in determining how efficiently a system works.
It's unfortunate but seniors in the U.S. are not helped and valued. Hardly
any company still offer a pension and those that do often only offer them to
management. Today's alternative is the 401K but many companies do not even
offer that. Not to meantion that 401Ks values can fall depending on the stock
market. Finally, there is social security but seniors do not recieve a
significant enough pay raise to make up for inflation. It is no wonder that
many of the poor in our nation are elderly.
So what do you think? Does retirement in the U.S. work? Why or why
not?
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