America Gets C+ for Retirement
According to Yahoo Finance, the U.S. retirement system recently scored a C+ in the 16th Annual Mercer CFA Global Pension Index, landing at a dismal 29th out of 48 countries. Here’s the issue: we’re living longer, but we’re not saving enough to cover those extra years. The usual suspects are at play—underfunded pensions, shoddy private savings, and the cold reality of a shrinking workforce supporting a growing number of retirees. Typical. Work hard your whole life only to find the safety net has a gigantic hole in it. Splat. Meanwhile, the Netherlands, Denmark and other countries figured it out by making retirement savings mandatory and automatic. The U.S. is currently trying to replicate their model, but unfortunately, it’s too late for a lot of us. Study harder, America!
