– Evan Osnos
(My comment on that quote: He launched this policy after he went to Singapore in 1978 and saw what Lee Kuan Yew had done and then went back home to duplicate that effort, albeit in a manner that would work within the Chinese system. But he did ride the tidal crest of demographics.)
- Workers aren’t saving enough money for the retirement income they’ll need.
- They need more than they think because they are living a lot longer.
- Retirement age is rising, but not as much as life expectancy is.
- Retirees also need more because healthcare costs are high and rising.
- Low interest rates reduce what retirees can withdraw from savings.
- 401(k)s aren’t working for most people because people make mistakes.
- Work longer to build assets and shrink the retirement period.
- Save more via Social Security and employer plans.
- Consider the house as a retirement asset.