A Dark Era of Retirement

"Americans are reaching retirement age in worse financial shape than the prior generation, for the first time since Harry Truman was president…In total, more than 40% of households headed by people aged 55 through 70 lack sufficient resources to maintain their living standard in retirement, a Wall Street Journal analysis concluded. That is around 15 million American households…Things are likely to get worse for a broader swath of America…For many Americans facing a less secure retirement than their parents, the biggest reason is the shift from pensions to 401(k)-type plans."

A Generation of Americans Is Entering Old Age the Least Prepared in Decades, WSJ