A third of Workers born in 1990 will retire BROKE, GAO
401k, gao, millenials, retirement 7:00 PM
So much for retiring wealthy in the US....
"Today's workers will more likely struggle to make ends meet during retirement than previous generations," said Rep. George Miller, D-Calif., who had requested the report. "While Social Security faces long-term challenges that must be addressed, this GAO report makes it clear that the real retirement security crisis is the lack of savings in private retirement plans."
The EBRI report found certain characteristics were associated with a lower level of participation in a retirement plan, such as being non-white, younger, female, never married, having a lower educational attainment, lower earnings, poorer health status, no health insurance through an employer, not working full time, not working full year, and working in service occupations or in farming, fisheries, and forestry occupations.
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Posted by OscarNOW
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