Over 4 million Individuals will attain conventional retirement age this yr, greater than another time in historical past. By 2030, child boomers will all be 65 or older, shrinking the workforce share of the inhabitants. What does this imply for Social Safety, which is funded by taxing present staff?
WSJ breaks down how this demographic shift threatens the way forward for Social Safety if nothing is completed earlier than 2034.
Chapters:
0:00 Child boomers retiring
0:27 How the workforce is altering
1:10 How this impacts Social Safety
2:26 How this impacts the individuals
4:30 What reform would seem like
Information Explainers
Some days the high-speed information cycle can convey extra questions than solutions. WSJ’s information explainers break down the day’s greatest tales into bite-size items that can assist you make sense of the information.
#Retirement #Economic system #WSJ
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DACA recipients should leave the United States because they will be the very last to benefit from any social programs. Why put money into systems that don't want you?
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US Citizen credit card defaults are at an all time high – and you can't declare Bankruptcy anymore – US Government Debt is Unprecedented – bye bye empire bye bye .
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You use OVER 50 BILLION dollars PER YEAR (title IV-D) of your social security just to push good fathers out of homes….
You deserve everything that's coming and more…
Please, people reading this comment section, dont fall for those idiotic comments "may I know who is your financial advisor" SCAM
Take corporations
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
Bunch of BS. the rich just wants to steal it.
If young folks were smart, they would leave the country and go where they actually get things for their taxes such as health insurance. Now, they will be debt free if they work until they die.
Recession! Crash! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I into as a newbie to safely grow my money.
Time to put Social Security out to pasture.
Welcome retirement. Dinosaurs stifle productivity in the workplace.
Wealthy people with six figure salaries don't need social security. Keep it only for the working class.
if boomers wanted a sustainable social security in their retirement years, they should have voted for economic policies that would enable younger generations to be more productive taxpayers. They didn't, so it's their problem, and I won't vote to help them. I myself don't expect much out of social security when I retire, so I will try to plan my future with more foresight than the boomers and assume I'm on my own.
What trust fund? Doesn’t exist and never has. This displays your ignorance.
The boomers being the last generation to get social security would be the icing on the cake for the generation that screwed their children and their children's children out of the American dream they got to live.
Any time a politician tries to make a good change, they are berated and defamed by the press and the left. People need to stop relying on mommy government because they have proven over and over that they can't be trusted with other people's money.
WW3 will make this moot
They ran up the debt, discouraged us from having kids, spend the social security, now want more retirement money because they didn't save a thing…