COMMENTARY: Americans’ Retirement Thinking Is Stuck in the Past. How to Fix It.
January 25, 2024 by Jason J. Fichtner
This year marks the beginning of the largest surge of retirement-age Americans in our nation’s history. Over 4.1 million Americans will turn 65 each year through 2027, which is more than 11,200 every day. If they don’t know already, they will soon discover how obsolete our nation’s public and private sector retirement systems are. The nation is far too reliant on the antiquated retirement-planning approach of focusing solely on accumulating a lump sum of savings, when what matters most is the actual income people will need for a retirement that could last 30 or more years.