Some researchers think the U.S. can no longer afford to provide the type of retirement security many middle income Americans enjoyed during the post-World War II decades. Beth Almeida, executive director of the National Institute on Retirement Security, disagrees. She writes on her blog:
“Our nation can afford everything we enjoyed in 1950 and more. Our nation’s gross domestic product is roughly six times larger than it was in 1950 and household incomes have grown by a similar amount. Even in the midst of our current economic struggles, ours is still the richest society in all of human history. But like Mr. Scrooge, it is the priorities we set, more so than the absolute level of our financial resources, that are the source of most of our troubles.”
Here are 5 more reasons to feel hopeful about retirement.
Tell us, can companies still afford to provide gold-plated retirement perks like health insurance for life and generous pensions that many people in past generations enjoyed?
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Muser of 3:35PM December 18, 2008