Let’s be honest. The U.S. has a serious retirement problem…
The Club’s Bond Strategist Steve McDonald writes extensively about this issue.
About 42% of Americans have less than $10,000 saved for retirement.
Even most of those with retirement accounts don’t have enough to last a long retirement. The median account balance for Americans nearing retirement is $15,000.
And that money is supposed to last them the rest of their lives!
Don’t look to the government for help. Social Security’s reserve funds will be depleted by 2034. Medicare will most likely become insolvent by 2026. The country is in massive debt… and so are many Americans.