25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind
For decades we were warned that when the Baby Boomers started to retire that this country would be facing a retirement crisis of unprecedented magnitude. Well, that day has arrived ladies and gentlemen. Back on January 1st, the Baby Boomers began to retire and more than 10,000 of them will be retiring every single day for years to come. Most of them have not saved up nearly enough money for retirement. At the same time, private sector pension plans are failing all over the place, hundreds of state and local government pension plans from coast to coast are woefully underfunded, and the Social Security system is on the road to complete and total disaster. A massive wave of humanity is hitting retirement age at a moment in history when the U.S. economy is coming apart at the seams. We do not have the resources to keep the promises that we made to the Baby Boomers, and most of them have not made adequate preparations for retirement. What we have is a gigantic mess on our hands, and millions of Baby Boomers are going to find retirement to be very bitter and very painful.
A lot of younger Americans just assume that Social Security is enough to take care of the needs of elderly Americans. But that is just not the case.
Have you ever tried to live solely on a Social Security check?
It is not easy. The truth is that those checks are just not that large.
The following comes directly from the Social Security Administration….
The average monthly Social Security benefit for a retired worker was about $1,177 at the beginning of 2011.
Could you live on less than 300 dollars a week?