Why Retirement Savings Is a Bigger Crisis Than Health Care

Reporter: John Divine

Publication: U.S. News & World Report


Deadline: May 22, 2017 11:00 am

We often hear that the biggest crisis facing older Americans is the sky-high cost of health care. While it’s true that’s a huge problem, a far more pressing issue is that most retirement-age households have *basically zero* saved for retirement. A 2015 University of California Berkeley study found that the median retirement-age household had just $14,500 in retirement savings, when clearly hundreds of thousands of dollars are needed. I’m looking for any commentary, insight or statistics on either the health care or retirement savings part of the discussion here. Deadline says Monday, but anything received today will be more likely to run.

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