By Steve McDonald The financial illiteracy crisis in this country costs us a fortune – and this will only continue.
It has already crippled the retirement lives of almost half the boomers, and if something isn’t done, the Gen Xers and millennials aren’t going to fare much better.
It’s a sad fact, but 47% of boomers have nothing saved for retirement. And a full 21% of elderly married couples, and 45% of unmarried people, rely on Social Security for 90% of their income.
The average Social Security check this year is $1,422. That’s $17,532 per year. Most of us spend more than that on restaurant meals …read more
