Retirement crisis looms for ageing Americans

Described by analysts as one of the one of the biggest crises facing America, the country's retirement woes have become more acute lately. As more people retire, many of them are under-resourced with little family support or community safety net.
Seniors in a retirement home in Florida. Ten thousand people turn 65 in the US every day, GO BankingRates estimates.
Seniors in a retirement home in Florida. Ten thousand people turn 65 in the US every day, GO BankingRates estimates.PHOTO: AGENCE FRANCE-PRESSE

Prospect of millions running out of money driving push for policy, systemic changes

When online broker TD Ameritrade released the results of a Generation X survey recently, it only confirmed fears that America's retirement crisis is deepening.

Baby boomers born following World War II were thought to be the generation caught in a vortex of low savings, inadequate pensions, huge debt, and a confusing jungle of financial instruments and schemes.

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A version of this article appeared in the print edition of The Straits Times on March 31, 2018, with the headline 'Retirement crisis looms for ageing Americans'. Print Edition | Subscribe