Crow Bar, I agree. I definitely see the looming retirement crisis becoming a political issue and election issue.
As an example, look how the student loan issue is now a “crisis” and the government must step in to save those borrowers, many whom are simply irresponsible.
To help pay for college, I joined the National Guard that paid the majority of in state tuition in my state. Recently, I told a friend about that NG program. Even though she didn’t have any savings or such, she stated that her son didn’t need to do something like that! Little Junior also had to attend a private pricey school and is on track to graduate with over $125,000 of student loans for a career that pays initial $35,000 salary.
I agree that similarly we will see a “retirement crisis” being a political issue.
The average social security benefit in 2019 is $1461 per month. For a couple that means approximately $2900 per month. With little or no debt plus retirement savings and pensions, this SS amount can be part of a retirement plan. The problem is the lack of other retirement income and debt load.
I don’t see this retirement issue being a political issue in the coming presidential election. I see the retirement crisis becoming an issue in about 4-8 years.
Sadly, personal responsibility is not fashionable.