URGENT: USA Collapse Will Be Far WORSE Than You Think..

URGENT: USA Collapse Will Be Far WORSE Than You Think.. message strange truth world news current events January 2023 today this week this month motivation The U.S. retirement savings crisis is not on the horizon. It's already here. And the middle class is going to be decimated by it. The erosion of incomes in America is ultimately going to deteriorate the quality of life of millions of middle class workers when they reach retirement age. And according to a new study, almost half of them are at risk of falling into or below the poverty line. Over the course of many decades, middle class Americans have been induced to believe that our current retirement system can provide the security and stability they need when they reach their golden years. But that can't be farther from the truth. In today's video, we did the math and brought the cold hard numbers that prove that for the vast majority of us, it will be impossible to maintain our living standards as we age. Before moving on, we kindly ask you to support our work with a thumbs up and please don't forget to subscribe. At this point, you probably already heard that the United States is facing a retirement crisis. Millions of Americans simply don't have the means to save enough money to provide for themselves when they get older. Before, this was mainly true for low income families. But now, with the rampant cost of living, stubborn inflation, and soaring interest rates, the share of middle income earners who are overwhelmed by rising debt and living expenses and can't save money for retirement is just daunting. Just like food and housing, retirement is a necessity. Eventually, we're all going to get to the point where we can't work anymore and society tells us it is our duty to make arrangements for when that happens because at some point, we will no longer be able to earn an income. However, the cost of retirement has risen exponentially and middle class Americans are going to be disproportionately impacted by this looming crisis. A new report released by Economic Policy Research found that the percentage of pay middle income owners have to save to finance an adequate retirement has ballooned over the past two decades. In the year 2000, a retiring middle class wage earner would have had to have saved over their career 5% of their monthly pay to finance an 80% pay replacement in retirement. In contrast, a middle class wage earner retiring in 2022 would have had to save 15 to 20% of their pay when adjusting to today's inflation, today's wages, and residency area. That is a 300 to 400% increase in the cost of retirement for this worker, which would require an additional 10 to 15% share of their salaries to be saved for retirement year in and year out over a 40 year career. Research shows that amongst the middle class workers who are saving for retirement, those who are putting 15% of their income aside are the exception to the rule. Only 31% of middle income Americans are reportedly saving money for their future. Of those, only 9% of middle income workers save 15% or more of their income for retirement, according to Pew Research Center data. At the same time, 42% are not currently saving for retirement. And from those, 53% are baby boomers reaching retirement age. Meanwhile, 27% of middle class workers have empty nest eggs. No wonder why a quarter of them expect to never retire, according to the CUNA Mutual Group 2022 Middle Class Survey. Of those who are saving for retirement right now, 7 in 10 wish they were saving more and they cite the rise in the cost of living as the top reason why they can't put more money aside. Social expenses come in second place and credit card debt is a close third. The analysis of the survey results also highlights that 54% of middle income baby boomers still in the workforce have less than $25,000 saved for the whole of their retirement, with 49% of them set to face their golden years with less than $10,000 saved. Find more @PeterSchiffChannel SUBSCRIBE @-anonymous for more - WEBSITE - FACEBOOK - INSTAGRAM - TWITTER - Please SHARE this as widely as you feel drawn... Content licensed in part by CTD Clip Licensing Group.