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Social Insecurity Coming

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Looks like this new year's mantra is once again that there is a retirement crisis.

The retirement shortfall has become more noticeable not only because a large population is starting to retire, but because Baby Boomers are the first generation to retire with individual accounts: the 401(k)-like plans in the US, UK, and Australia, among others. Economists at the left-leaning Economic Policy Institute declared the 401(k) system a disaster, citing 50% coverage rates and low asset balances that won’t cover an adequate retirement.



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