Tuesday, June 21, 2011

Alarming Retirement Facts

The typical 401(k) account has $98,000 at retirement; just 20% have a defined benefit plan pension, down from 40% in 1975; and 34% of Americans have nothing saved for retirement, according to labor lawyer Thomas Geoghegan in yesterday's NYT.

Why do Americans oppose overwhelmingly making Medicare a voucher program or privatizing Social Security?

See above for answers.

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