Zero Median Retirement

The value of the median retirement account in America is nearly zero because almost half of Americans have no retirement savings. The group just above the median, as high as the upper-middle class has a median value of only $6,000. It is only the upper class that has enough saved for retirement. $30T in wealth has been generated in the US since 2009, but evidently very little of it has gone to anyone outside the upper class. When more than half the population finds itself in such a situation it is more of a statement about the system than individual actions. People can’t save when their expenses capture all their income. In the meantime, the existing workers funding Social Security are having to support a growing, aging population. These are trends that can’t continue for long, but nothing seems to be directed to changing them.

(Click on the photo for the link.)

“America Despises Its Elderly” – Salon