🔴Retirement Crisis Looming     IRA, 401K, Pensions, Social Security, Demographic Time Bomb !!
Channel: GeoStar TV
Date: 2020-04-05

🔴Retirement Crisis Looming --  Demographic  IRA 401K Pensions Social Security Time Bomb -- 
Social Security is 14 years short of insolvency; pensions are largely underfunded and in sharp decline, and personal savings are at historic lows. 
We predict a national crisis in public sector pensions within the next decade that will leave state and local governments bankrupt and taxpayers on the hook for trillions of dollars.


The pension crisis is the most significant single theme of our generation.


Welcome to The Atlantis Report.

Social Security is expected to be insolvent in 2033. 
In 1950, there were 16.5 workers for every Social Security beneficiary. Today, there are less than three workers paying in for each recipient. Company-sponsored pensions have been in rapid decrease since the 1980s. Today, less than one out of every five private-sector employees has a pension. As a group, American workers are evaluated to be $6.6 TRILLION short of what they need to retire comfortably. 
10,000 Baby boomers are reaching “retirement age” every day. Forty percent of Baby boomers anticipate to work  “until they drop.” 

Demographics are the biggest story of our time. And it's all about the story of the baby boomer generation. This was the largest generation of people the world had ever known in the wealthiest countries and across the globe. 
Now, that generation drove all of the macroeconomic forces that we come to recognize as usual. When they first came into the labor force back in the 1970s when they 20 or so years old, what they did was they bid up the demand for goods. Because if you think about it, a record number of people came in to buy their first suits, their first house, their first car, their first table, their first chair. Everything was new. That demand created a tremendous problem for the world to address, and it created the inflationary environment of the '80s. Yes, there were monetary grounds behind that, as well. But really, a lot of it was driven by demographics. Now, as that generation moved through their lifetimes, they had a particular set of behavior patterns that impacted the financial world first and foremost. The main one is the fact that after the Second World War, that young generation decided they didn't want to be their parents, as nearly everybody does. And they said, we don't want to be austere. Their parents had lived through two world wars. What they wanted to do was spend. They wanted to be free of the shackles of the things that their parents had had in the past. So what happened was Wall Street, being smart as ever, came up with this genius idea. It was the pension plan. 

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